Fidelity and GBTC Boost Bitcoin ETF Inflows Above $303 Million Mark

By: Isha Das

Key Insights

Recent data highlighted an impressive surge of $303 million in the inflow of Bitcoin (BTC) Exchange-Traded Funds (ETFs) on May 15, the highest figure since May 3. This highlights positive inflows across the board, barring a few exceptions like the BlackRock IBIT and Hashdex DEFI Bitcoin ETF.

Among the key contributors to the surge, Fidelity FBTC led the way with a significant inflow of $131.3 million. This addition increased its total to a whopping $8.3 billion in net inflows. Following closely, Bitwise BITB also saw a substantial day of amassing $86.3 million in inflow, boosting its total net inflow to $1.9 billion.

The most notable takeaway was from Grayscale GBTC, which reported an inflow of $27 million. It marked only the third instance that Grayscale registered an inflow to curtail its total outflows to $17.7 billion. In summary, the overall net inflows stand strong at $12.2 billion.

Furthermore, the conversion data representing the inflows into Bitcoin showed the accumulation of 4,600 BTC on May 15, a figure that was more than ten times the daily mining reward.