Whals rekt: Bitcoin ETFs see runner-up record day with $887M inflows

According to preliminary data, Fidelity's Bitcoin fund led with $378.7 million in net inflows on the second-highest joint net inflow day for U.S. spot Bitcoin ETFs.

United States-based spot Bitcoin exchange-traded funds (ETFs) had their second-best joint net inflow day ever, amounting to $886.6 million, based on initial figures.

The largest inflow was seen by the Fidelity Wise Origin Bitcoin Fund (FBTC) at $378.7 million, followed by BlackRock’s iShares Bitcoin Trust (IBIT) with $274.4 million, as reported by Farside Investors.

The ARK 21Shares Bitcoin ETF (ARKB) secured the third spot with $138.7 million in net inflows, according to Farside's data.

BTC

$71,054

 This marks the highest net inflows since March 12, when the funds collectively took in a record $1.04 billion, with Bitcoin reaching an all-time high of $73,679 on March 13.

The Grayscale Bitcoin Trust (GBTC) has experienced over $17.8 billion in net outflows, largely due to its high management fee of 1.5% and a narrowed discount, prompting many holders to exit.

Initially holding 620,000 BTC at the launch of spot Bitcoin ETFs, Grayscale’s Bitcoin fund now holds 285,481 BTC, valued at $20.2 billion, according to the Apollo Bitcoin Tracker.

Nate Geraci, president of ETF Store, responded to Bitcoin critics on X, stating that despite predictions that the market had exhausted potential retail investors, the substantial inflows suggest otherwise.