Fidelity FBTC Claims Third Spot in AUM Among Global Bitcoin ETF Issuers

FIDELITY building and a bitcoin logo

The Fidelity Bitcoin Spot ETF (FBTC) has ascended to become the world’s third-largest Bitcoin ETF in terms of assets under management (AUM). This news broke courtesy of Vetle Lunde, senior analyst at K33 Research, whose post on the X platform paints a comprehensive picture of the state of Bitcoin spot ETFs in the United States.

New US ETFs Currently Hold 140,490 BTC

Jan 27

New US ETFs currently hold 140,490 BTC.
GBTC has faced outflows of 122,580 BTC.

A net increase in US exposure of 17,910 BTC since the launch.

FBTC has become the world’s 3rd largest BTC ETF by AUM, whereas IBIT is about to surpass Canadian ETF’s total BTC exposure.

— Vetle Lunde (@VetleLunde) January 27, 2024

Currently, nine newly launched Bitcoin spot ETFs in the US collectively hold a total of 140,490 BTC. Contrasting with this, the Grayscale Bitcoin Trust (GBTC) experienced a net outflow of 122,580 BTC during the same period.

Consequently, the US Bitcoin spot ETF has netted an increase of 17,910 BTC since it began operations.

Bitcoin Spot ETFs Accumulate 17,910 BTC Despite Grayscale Outflow

Nine newly launched Bitcoin spot ETFs in the US have acquired a combined total of 140,490 BTC since their inception, marking a significant entry into the cryptocurrency market.

While the established Grayscale Bitcoin Trust (GBTC) witnessed a net outflow of 122,580 BTC during the same period, the overall US Bitcoin spot ETF market has seen a net increase of 17,910 BTC.

This positive net inflow suggests growing institutional interest in Bitcoin through spot ETFs, potentially indicating increased confidence and broader adoption within the traditional financial system.

The influx of new players could also lead to greater competition and potentially lower fees for investors. It’s important to note that the Bitcoin market remains volatile, and past performance is not indicative of future results.

Author: Cornelius

Cornelius is a crypto trader. He holds some cryptocurrencies.