Spot BTC ETFs saw $303 million in inflows amid bullish backdrop

Fidelity’s Wise Origin Bitcoin Fund (FBTC) became the best performing fund on May 15, seeing an inflow of $131 million as market data shows a total net inflow of $303 million from the broader market Bitcoin (BTC) exchange-traded funds (ETFs). .

Notably, FBTC has recently become the leader in the Bitcoin ETF spot market, surpassing major investment products including BlackRock’s iShares Trust Fund (IBIT). The market as a whole recorded its third consecutive day of net inflows yesterday after several days of outflows due to crypto market turmoil.

Farside Investors Market Data noted that several ETFs started the week with zero flows, including IBIT. On May 15, IBIT was the only spot Bitcoin ETF to record zero flow, marking its sixth day of zero flow in May.

Crypto.news previously reported that BlackRock’s IBIT recorded its first day of zero flow on April 24 since the launch of spot Bitcoin ETFs in January. On that day, several ETFs also reported no inflows, with Fidelity’s FBTC and ARK’s ARKB the only products to see inflows.

Following this upward momentum, Fidelity FBTC recorded consecutive days of outflows from April 29 to May 1 before experiencing zero flows on May 2. It now continues to generate strong inflows, outperforming other ETFs for the fifth time this month.

Other top performers include the Bitwise Bitcoin ETF (BITB) and the 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 but Bloomberg analyst Eric Balchunas expressed skepticism that this trend will repeat. Balchunas noted that despite earlier outflows from spot Bitcoin ETFs and Bitcoin falling below $60,000, more than 95% of investors held on to their investments and refrained from selling.

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