Fidelity’s ETF Leads Inflows
Fidelity’s spot Bitcoin ETF received daily inflows of $208 million, surpassing outflows from Grayscale Bitcoin Trust (GBTC) for the first time since their launch. GBTC experienced a drop in outflows, with the lowest daily outflows since its conversion to a Spot Bitcoin ETF.
BlackRock Surpasses $2B AUM
BlackRock’s Bitcoin ETF, trading under the ticker IBIT, has crossed $2 billion in assets under management (AUM) shortly after its launch. It now holds over 52,000 BTC, and its strong performance is seen as offsetting the outflows from GBTC.
Hong Kong Prepares for Spot Bitcoin ETF Launch
Harvest Hong Kong, one of China’s largest fund managers, submitted an application for a spot Bitcoin ETF to the Hong Kong Securities and Futures Commission (SFC). The SFC is working to expedite the approval process, with expectations of launching the first Hong Kong spot Bitcoin ETF after the Chinese New Year.
These developments indicate potential shifts in the cryptocurrency market, with increasing interest in Bitcoin ETFs and potential supply squeezes driving prices higher.
Source: COINTELEGRAPH
