Fidelity Plugs The GBTC Bleed: Spot Bitcoin ETFs Begin Healing With Inflows Ramping Up
Summary
Fidelity's FBTC saw $208 million inflows on Jan 29, outweighing Grayscale's GBTC outflows. The "newborn 9" Spot Bitcoin ETF issuers have a total gross flow of $5.8 billion, buying 140,000 BTC, while Grayscale sold 120,000 BTC. Invesco and Galaxy Digital reduced their long-term fee to 0.25%, leaving Grayscale as the only issuer with a fund fee above 0.30%. Google allowed ETF ads on Jan 29, and BlackRock and VanEck quickly utilized this. The battle for dominance in the Spot Bitcoin ETF market continues.
