The Fidelity Investments Spot Bitcoin ETF FBTC has broken its 63-day streak of consecutive inflows amid investor cooloff.
Fidelity Investments’ spot Bitcoin ETF FBTC concluded its 63-day streak with a zero inflow as the market closed on Friday.
Fidelity Spot Bitcoin ETF Modifies Its Course
According to a post on X by the London-based investment management firm Farside Investors, Eric Balchunas presented a chart illustrating the current streaks maintained by several ETFs.
The senior ETF analyst at Bloomberg verified that FBTC’s streak ended on day 63.
Considering the spot Bitcoin ETF’s exceptional performance—to the extent that it has surpassed BlackRock—this forecast may surprise investors and other market observers.
Fidelity Investments captured a substantial portion of the surge in client demand for spot Bitcoin ETFs that major banks were experiencing during the final week of March.
Fidelity’s FBTC specifically documented inflows totaling $261 million. In contrast, the IBIT of BlackRock garnered a mere $35 million in inflows.
On March 26, the nine-spot Bitcoin ETFs experienced a cumulative net inflow of $417 million, according to data from Farside Investors.
Fidelity’s FBTC generated the most substantial single-day net inflow, amounting to around $279 million out of the total figure.
This signifies the second occasion that Fidelity will surpass BlackRock in daily inflow for the specified week.
Grayscale Trails Behind BlackRock
Until now, BlackRock’s IBIT and Fidelity’s FBTC have demonstrated the most incredible resilience among the nine spot Bitcoin ETFs.
Both have effectively ascended the ranks to rank among the top 20 ETFs on the “all-time high” list, resulting in substantial outflows for Grayscale and similar funds.
BlackRock was the only firm to have documented inflows, amounting to $111.1 million, per recent data disclosed by Farside Investors.
Likewise, according to the chart of Balchunas, BlackRock IBIT has now commenced its 64th consecutive day of inflows.
Balchunas believes it could contend with USMV for the fourteenth position in history.
Notably, this USMV is a BlackRock ETF that aims to replicate the performance of an index consisting solely of U.S. equities.
Grayscale continues to experience substantial outflows, a pattern that regrettably has persisted since the initial week of the spot Bitcoin ETF’s existence.
On Friday, the Bitcoin ETF experienced a withdrawal of $166.2 million.
