Fidelity Investments' Cboe-listed Bitcoin exchange-traded fund (ETF) accounted for 45% of Wednesday's U.S. inflows.
The Bitcoin ETF market recorded its 17th consecutive day of inflows on Wednesday, June 5, with a net inflow of $488,28 million.
Data from Soso Value platform shows that Fidelity Investments’ exchange-traded fund, the Fidelity Wise Origin Bitcoin Fund (FBTC), recorded the highest daily inflow volume, compared to its competitors BlackRock and Grayscale, which operate the two largest Bitcoin ETFs on the market.
In total, Fidelity's FBTC saw $221 million inflows, representing 45% of the total volume of inflows into these funds, on Wednesday.
Source: Soso Value
At the time of writing, assets under management in US Bitcoin ETFs are approaching $62.000 billion, with BlackRock, Grayscale and Fidelity leading the way in this market.
Bitcoin spot ETFs resume inflows
Over the past two weeks, Bitcoin spot ETFs have been seeing positive inflows, totaling around $3.600 billion since May 13.
CoinShares analysts have commented that the current Bitcoin bull market, stronger than the one seen in 2021, is spurring interest from the world's largest investors and financial institutions and driving inflows into cryptocurrency-based investment products.
Source: Soso Value
As seen in the chart above, daily inflows into Bitcoin ETFs spiked on June 4, when the BTC price rebounded above $71.000. On Tuesday, fund inflows rose to $886 million, recording their second-best day since they began trading on the market.
BlackRock ETF hits significant milestone
Interestingly, while Fidelity led inflows into Bitcoin spot ETFs on Wednesday, BlackRock-managed exchange-traded fund iShares Bitcoin Trust (IBIT) is leading the Bitcoin spot fund market overall.
According to the data, this fund maintains 295.457 BTC in reserves currently, which is about 10.500 BTC more than Grayscale Investments' fund, and about 124.000 BTC more than Fidelity's mutual fund.
BlackRock became the first Bitcoin fund manager to surpass $10.000 billion and $20.000 billion in assets under management in the Bitcoin spot ETF market, representing a milestone not only for the cryptocurrency market, but for the exchange-traded fund market in general. IBIT is currently the fastest-growing ETF in financial history.
