Fidelity's $310M Inflow Steers Bitcoin ETFs Away from Disaster

The week that began with outflows of $746.3 million from U.S. spot Bitcoin exchange-traded funds (ETFs) ended with a net inflow of just $6.1 million, according to data from Farside Investors.

The turnaround was led by Fidelity's Wise Origin Bitcoin Fund (FBTC), which added $310.7 million on Friday, September 18th, nearly three times the amount contributed by BlackRock's iShares Bitcoin Trust (IBIT).

This week's fluctuations in ETF flows highlight the market's volatility and sensitivity to policy decisions. The Federal Reserve raised its target range by 25 basis points to 3.75% to 4.00% on September 16th, which may have contributed to the outflows on Tuesday and Wednesday.

Despite the narrow net inflow for the week, Fidelity's surge on Friday suggests that participation in ETFs is broadening beyond BlackRock's dominance. However, it remains to be seen whether this trend will continue in the next sessions.