Fidelity reignites the battle for bitcoin ETFs in the United States

Fidelity’s bitcoin ETF attracted $378 million in net new assets in 24 hours, a new record.

Fidelity’s bitcoin ETF increased by $378 million in 24 hours, in terms of assets under management. An all-time high in one day for the “Fidelity Wise Origin Bitcoin Fund” ETF. It dethrones those of GrayScale and BlackRock for the record inflows over a day, although Blacrock’s ETF remains the largest on the market after recently passing $20 billion in assets under management. Bitcoin ETFs have also experienced positive net inflows for fifteen consecutive days.

Blackrock’s IShares Bitcoin Trust, for example, increased by $275 million in 24 hours, pushing net capital flows to $887 million in total for all bitcoin ETFs on the day. This is the 2nd best day on record for bitcoin ETFs. The record dates from March 12 with net capital flows of just over $1 billion, just before bitcoin reached its all-time high by reaching $73,800.

Bitcoin ETFs are showing good momentum at the moment. Fidelity is also in the process of carving out a place for itself between the giants Grayscale and Blackrock. Inflows to Fidelity’s Bitcoin ETF have accounted for 56% of inflows to bitcoin ETFs overall year-to-date. This demonstrates the growing interest of investors in the queen of cryptocurrencies. Bitcoin was trading on Thursday June 6 at 10 a.m. at around 70,940 dollars (65,253 euros).