U.S. Bitcoin ETFs Investors Flock to Fidelity’s FBTC: $235 Million in Two Days

U.S. spot Bitcoin exchange-traded funds (ETFs) reported significant inflows totalling $235 million on Monday.

Fidelity's FBTC led the way with the highest daily inflows. Other prominent ETFs, like BlackRock's IBIT and Bitwise's BITB, also saw substantial inflows.

Fidelity's FBTC Takes the Lead in Bitcoin ETF Inflows

Bitcoin ETFs in the U.S. experienced a significant inflow of $235 million, marking the second consecutive day of inflows. According to data from SoSoValue, Fidelity's FBTC led the pack with $103.68 million in inflows.

Following close behind, BlackRock's IBIT, the most prominent spot Bitcoin ETF by net assets, also saw a substantial inflow of $97.88 million. This comes after IBIT reported no inflows on Friday, making Monday's figures particularly noteworthy.

While Fidelity and BlackRock led the inflow race, other Bitcoin ETFs also reported positive results. Bitwise's BITB recorded net inflows of $13.09 million, further adding to the overall momentum seen on Monday.

Ark and 21Shares' ARKB also posted solid numbers, bringing in $12.63 million in net inflows. VanEck's HODL was another ETF that saw gains, with inflows of $5.37 million, while Invesco's BTCO brought in $2.53 million.

These smaller inflows still contribute to the broader picture of growing investor interest in BTC ETFs.

Interestingly, despite the positive trend for most of these products, Grayscale's GBTC and six other ETFs saw no inflows on Monday. This might be a temporary pause, as GBTC typically plays a significant role in the ETF market.

However, focusing on other products could indicate shifting investor preferences or market strategies.

Alongside the significant inflows, the total trading volume for the 12 Bitcoin ETFs rose slightly on Monday. The volume reached $1.22 billion, up from $1.19 billion on Friday and $1.13 billion on Thursday.

This steady increase in volume shows continued interest and activity in the Bitcoin ETF market.

Ethereum ETFs Record No Flows on the Same Day

In contrast to Bitcoin ETFs, U.S. spot Ethereum ETFs saw no inflows on Monday.

This follows a more mixed performance in the days prior, with $7.39 million in inflows on Friday but $3.2 million in outflows on Thursday. The total trading volume for the nine Ethereum ETFs dropped to $118.43 million on Monday, down from $148.01 million on Friday.

While Bitcoin continues attracting investor interest, Ethereum ETFs have seen more volatility recently. This could be due to various market factors, including price movements and broader sentiment in the cryptocurrency market.

Bitcoin's price had dipped 0.80% over the past 24 hours to $62,500. Meanwhile, ether, Ethereum's native token,declined by 1.51% to trade around $2,442.

CoinMarketCap data shows that BTC and ETH's 24-hour trading volumes are up over 50% and 28%. These price movements explain the lack of inflows for Ethereum ETFs, as investors are more focused on Bitcoin during this period.

Despite the dip in bitcoin's price, the positive inflows and rising trading volumes suggest that investors remain optimistic about its long-term prospects.

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