Fidelity’s Bitcoin Fund Becomes Fifth Most Popular of All ETFs in 2024
The Fidelity Wise Origin Bitcoin Fund has attracted $6.9 billion from investors since its launch in January, the fifth-highest amount of all exchange-traded funds.
Mar 18, 2024 at 5:20 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/4FKE5XQWK5HDFF6HXTS5BUYSXY.jpg)
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- Fidelity’s Wise Origin Bitcoin Fund (FBTC) has seen the fifth most inflows out of all exchange-traded funds (ETFs) so far this year.
- The fund attracted roughly $6.9 billion since its launch on Jan. 12.
Fidelity’s Wise Origin Bitcoin Fund (FBTC) is the fifth most popular exchange-traded fund (ETF) on the market right now, attracting roughly $6.9 billion since its introduction on Jan. 12, according to data from Bloomberg Intelligence.
The fund is the second of the spot bitcoin ETFs to make it into the top five. BlackRock’s iShares Bitcoin Trust (IBIT) joined the ranks of the biggest funds in February.
The No. 1 fund based on 2024 inflows is Vanguard’s S&P 500 ETF (VOO), which has attracted over $24 billion from investors. IBIT is in third place with $12.5 billion, behind the iShares Core S&P 500 ETF (IVV), which has seen just over $15 billion of inflows this year.
After a strong start to the week last week, flows into the 10 spot bitcoin ETFs slowed on Thursday and Friday as part of a wider market sell-off. The funds recorded a combined $133 million entering on Thursday and $199 million on Friday, according to data from Farside Investors.
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Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.