Fidelity’s FBTC spot Bitcoin ETF has amassed over 150,000 BTC in assets under management, barely three months after its inception. This surge has catapulted the total holdings of the newly established spot Bitcoin ETFs—excluding Grayscale’s GBTC conversion—to an impressive figure exceeding 520,000 BTC.
As of the latest updates, Fidelity’s FBTC boasts 150,563 BTC in its coffers, translating to an approximate value of $10.1 billion, given the current market prices. Among its peers, BlackRock’s IBIT leads the pack with 263,937 BTC, valued at $18.5 billion, while Ark Invest 21Shares’ ARKB ranks third, holding 43,726 BTC, or $3.1 billion, as per CoinGlass data.
During the same timeframe, Grayscale’s GBTC fund, known for its higher fees, saw a dramatic reduction in assets—from 619,220 BTC to 322,697 BTC, marking a 48% decline. In contrast, the aggregate assets of all U.S.-based spot Bitcoin ETFs have reached 842,897 BTC, which accounts for over 4% of the finite 21 million bitcoin supply.
Market share dynamics have shifted significantly since these ETFs began trading on January 11. Grayscale’s market share has diminished to 38.6%, while BlackRock’s IBIT has surged to 31.3%. Fidelity’s FBTC and Ark Invest 21Shares’ ARKB follow with 17.7% and 5.2% of the bitcoin holdings market share, respectively.
Despite these milestones, the U.S. spot Bitcoin ETFs experienced their most significant net outflows in three weeks, with a total of $223.8 million withdrawn on a single day, overshadowed by $303.3 million exiting Grayscale’s GBTC. Fidelity’s FBTC managed a modest $6.3 million in inflows, marking one of its least impressive days compared to a record $473 million influx on March 7.
On the same day, Bitwise’s BITB saw a notable $40.3 million in inflows, while BlackRock’s usually dominant IBIT added a mere $21.3 million. Ark Invest 21Shares’ ARKB and WisdomTree’s BTCW contributed $9.3 million and $2.3 million, respectively, with no significant movements reported for the other ETFs.
Overall, the momentum for spot Bitcoin ETF inflows has decelerated since reaching a peak daily net inflow of $1.05 billion on March 12. However, IBIT and FBTC have maintained a consistent inflow for 59 consecutive trading days, a feat noted by Bloomberg ETF analyst Eric Balchunas as an extraordinary streak among newcomers.
As bitcoin’s trading volume experiences a downturn from its March 5 peak of $9.9 billion, the cryptocurrency’s price has also seen fluctuations. Currently, Bitcoin trades at $70,593, marking a 2% decrease over the past 24 hours but boasting a 7% increase over the last month and a 67% rise year-to-date.
