Fidelity’s Bitcoin ETF has surged with $183 million in daily inflows, pushing its total Bitcoin holdings to an impressive $20.76 billion amid renewed institutional interest.
Spot Bitcoin ETFs collectively reversed a recent outflow, recording a net inflow of $407.78 million on July 2, signaling a positive shift in market momentum.
According to COINOTAG, Fidelity’s Wise Origin Bitcoin Fund outpaced BlackRock’s iShares Bitcoin Trust, highlighting a notable shift in institutional buying patterns.
Fidelity’s Bitcoin ETF inflows hit $183M, boosting holdings to $20.76B as spot Bitcoin ETFs rebound with $407.78M net inflows, signaling growing institutional demand.
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Fidelity’s Wise Origin Bitcoin Fund (FBTC) has solidified its position as a leading institutional player by accumulating Bitcoin worth $20.76 billion, representing over 1% of the total Bitcoin supply. This milestone underscores Fidelity’s strategic expansion in the digital asset space, with the fund’s market value rising to approximately $8.8 billion. The substantial $183 million inflow on July 2 not only reversed recent outflows but also demonstrated renewed confidence among institutional investors in Bitcoin’s long-term potential.
After experiencing a sharp $342 million outflow on June 30, spot Bitcoin ETFs collectively recorded a net inflow of $407.78 million on July 2. This reversal signals a resurgence of investor interest and capital inflows into Bitcoin-related financial products. The inflows suggest that institutional investors are actively repositioning their portfolios to capitalize on Bitcoin’s price stability and growth prospects. Market data from COINOTAG highlights Fidelity’s FBTC as the primary beneficiary of this trend, temporarily outpacing BlackRock’s iShares Bitcoin Trust (IBIT), which reported no inflows on the same day.
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Source: https://en.coinotag.com/fidelitys-bitcoin-etf-sees-significant-inflows-suggesting-renewed-institutional-interest/