Fidelity’s $FBTC Surpasses $10 Billion AUM Milestone, Cements Place as Third-Largest Spot Bitcoin ETF

According to new data, the ETF accrued over 150,563 Bitcoin, equating to over $10.1 billion in assets under management. 

This development further cements $FBTC as the third-largest Spot Bitcoin ETF in the U.S. It is trailing behind BlackRock’s ($IBIT) and Grayscale’s converted Bitcoin Trust ($GBTC).

Grayscale’s Bitcoin Trust ($GBTC) remains the largest in the pack, boasting over $23.15 billion in AUM, per CoinGlass data. However, despite its dominance, Grayscale’s portfolio has significantly reduced from 619,220 BTC to 322,697 BTC in the past three months. 

In contrast, BlackRock’s $IBIT’s AUM rose to over $17.24 billion within the same timeframe, and it has over 264,233.64 BTC in its holdings. It crossed the $1 billion AUM milestone within two weeks of its launch and was the first fund to hold 99% of its assets in Bitcoin. 

Notably, Fidelity’s $FBTC followed Blackrock’s lead closely as it crossed the $1 Billion AUM milestone 24 hours after Blackrock achieved the feat.

Collectively, the assets held by all Spot Bitcoin ETFs stand at 842,897 BTC, equivalent to over 4% of Bitcoin’s total circulating supply of 21 million.

Meanwhile, according to data from Farside, the spot Bitcoin ETFs recorded a collective net outflow of $223.8 million for the trading day ending Monday, April 8. 

$GBTC continued its usual trend, with $303.3 million leaving the fund, while the other nine ETFs recorded low inflows compared to previous records. Bitwise’s $BITB saw the largest inflow at $40.3 million, followed by BlackRock’s $IBIT with $21.3 million. ARK Investment’s $ARKB and Fidelity Investment’s $FBTC also observed inflows of $9.3 million and $6.3 million, respectively.

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