Crypto
Blackrock and Fidelity Lead $297M Bitcoin ETF Rebound
Bitcoin exchange-traded funds (ETFs) saw a significant rebound at the start of the week, with $297.56 million in net inflows after three consecutive days of outflows.
The influx was led by Blackrock and Fidelity, which drove nearly 90% of the daily total into four Bitcoin ETFs.
Blackrock's IBIT received $160.23 million, while Fidelity's FBTC added $111.90 million. The other two funds, ARK 21Shares' ARKB and Morgan Stanley's MSBT, brought in a combined $25.38 million.
The strength of the Bitcoin ETF market was underscored by institutional participation, with quantitative trading firm Jane Street disclosing over $1 billion in U.S. spot Bitcoin ETF holdings as of June 30.