Spot BTC ETFs recorded $303m in inflows amid bullish momentum

Fidelity’s Wise Origin Bitcoin Fund (FBTC) emerged as the top performer on May 15, recording an inflow of $131 million as market data shows a total net inflow of $303 million from the broader spot Bitcoin (BTC) exchange-traded fund (ETF) market.

Notably, FBTC has emerged as the front-runner in the spot Bitcoin ETF market in recent times, surpassing major investment products, including BlackRock’s iShares Trust Fund (IBIT). The broader market recorded its third consecutive day of net inflows yesterday following multiple days of outflows on the back of the crypto market turbulence.

Market data from Farside Investors indicates that multiple ETFs began the week with zero flows, including IBIT. On May 15, IBIT was the only spot Bitcoin ETF to record zero flows, marking its sixth day of zero flows in May.

Crypto.news previously reported that BlackRock’s IBIT recorded its first day of zero flows on April 24 since the launch of spot Bitcoin ETFs in January. On that day, multiple ETFs also reported zero inflows, with Fidelity’s FBTC and ARK’s ARKB being the only products to witness inflows.

Following the bullish momentum, Fidelity’s FBTC recorded consecutive days of outflows from April 29 to May 1 before seeing zero flows on May 2. It has now continued to command robust capital inflows, outperforming other ETFs for the fifth time this month.

Other top performers include the Bitwise Bitcoin ETF (BITB) and Ark 21Shares Bitcoin ETF (ARKB), with inflows of $86.3 million and $27 million, respectively. Grayscale Bitcoin Trust (GBTC) also saw inflows totaling $27 million. On May 14, GBTC recorded an outflow of $50.9 million.

Earlier in May, all spot Bitcoin ETFs witnessed inflows, but Bloomberg analyst Eric Balchunas expressed skepticism that this trend would repeat. Balchunas noted that despite the earlier capital outflows from spot Bitcoin ETFs and Bitcoin dropping below $60,000, over 95% of investors retained their investments and refrained from selling.