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Post: Bitcoin ETF Outflows Drop as Fidelity Surpasses Grayscale – Investor Sentiment Shifts

Bitcoin ETF Outflows Drop as Fidelity Surpasses Grayscale – Investor Sentiment Shifts

Key Points:

  • Fidelity’s spot Bitcoin ETF, FBTC, recorded $208 million in daily inflows on January 29th.
  • This exceeded the outflows from Grayscale Bitcoin Trust (GBTC) on the same day.
  • GBTC had its lowest daily outflows, totaling $192 million, excluding its launch day.
  • GBTC’s outflows have been steadily decreasing for the past five days.

Elaborate With Insight:

Fidelity’s spot Bitcoin ETF, FBTC, has been gaining significant inflows, surpassing the outflows from Grayscale’s Bitcoin Trust (GBTC). On January 29th, FBTC attracted $208 million in inflows, while GBTC experienced $192 million in outflows, the lowest since its launch.

GBTC’s outflow has been declining for the fifth consecutive day, resulting in a nearly 25% decrease compared to January 26th and a significant 70% drop from its peak daily outflows of $641 million on January 22nd. This trend suggests that investors are increasingly favoring Fidelity’s spot Bitcoin ETF over Grayscale’s Bitcoin Trust.

Hot Take:

The increase in inflows for Fidelity’s spot Bitcoin ETF, coupled with the decrease in outflows for Grayscale’s Bitcoin Trust, indicates a shift in investor sentiment. It appears that Fidelity’s offering is appealing to investors as a more attractive option for gaining exposure to Bitcoin. This could be due to factors such as lower fees, better performance, or increased confidence in Fidelity’s reputation as an established financial institution. It will be interesting to see if this trend continues and if Fidelity’s spot Bitcoin ETF becomes a more dominant player in the market.

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