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Fidelity Bitcoin ETF Leads $66M Influx in U.S. Spot Bitcoin ETFs Amid Market Recovery

The Fidelity Bitcoin ETF (FBTC) spearheads a $66 million inflow into U.S. Spot Bitcoin ETFs, signaling renewed interest among investors amidst the ongoing market recovery.

After a recent downturn, the U.S. Spot Bitcoin ETF sector experiences a resurgence, witnessing a significant $66 million influx over the last two days, reversing the previous week’s outflow trend. Notably, data reveals that Fidelity’s FBTC leads the current inflow, highlighting a fresh wave of investor enthusiasm for crypto-backed exchange-traded funds. This renewed interest coincides with a rebound in the Bitcoin price.

Fidelity’s FBTC Emerges as Inflow Leader Following consecutive days of outflows, the Bitcoin ETF market sees a turnaround with a substantial $66 million net inflow, as reported by Farside Investors. Notably, Fidelity’s FBTC takes the lead, attracting $38.6 million in inflows, followed by Bitwise Bitcoin ETF BITB with $20.3 million.

This influx also reflects renewed trader confidence in Bitcoin ETFs, coinciding with the cryptocurrency’s recent price recovery, surpassing the $63,000 mark. Amid heightened market volatility, this resurgence in investor interest indicates a renewed appetite for cryptocurrency investments.

The $66 million net inflow on May 13 marks a positive shift after two days of negative flows. While no ETFs experienced outflows, seven out of ten US Bitcoin ETFs, including Grayscale and BlackRock offerings, reported zero flows. Over the last 30 trading days, the ten Bitcoin ETFs saw a net outflow of $297 million, with outflows recorded on 17 of those days.

Crypto Market Performance The $66 million influx into Bitcoin ETFs signals a renewed bullish sentiment among investors, with Fidelity’s FBTC leading the charge. With Bitcoin’s price rebounding and optimistic forecasts from analysts, the cryptocurrency market appears primed for further growth and stability.

As of writing, the crypto market has surged 0.37% to $2.27 trillion, with trading volume rising 50% to $71.79 billion. Meanwhile, the Bitcoin price has seen slight gains of 0.33% over the last 24 hours, trading at $61,876.45.

During this period, Bitcoin’s price reached highs of $63,422.66 and lows of $61,400.88, reflecting the ongoing market volatility.

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Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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