Fidelity's Bitcoin Fund Draws $116.5 Million Amid Ongoing Wallet Transfers

Fidelity's Bitcoin Fund (FBTC) saw $116.5 million in net inflows over the past week, with $41 million recorded on Friday alone.

This surge was dwarfed by the iShares Bitcoin Trust (IBIT), which took in 80.1% of category inflows, totaling $693.5 million.

The Fidelity Ethereum Fund (FETH) had lower overall inflows but a higher proportion relative to its total assets, with weekly inflows amounting to 2.65% of its estimated assets.

An unconfirmed transfer of 50,000 ether was almost quadruple FETH's weekly inflow and may be related to potential fund creations or redemptions.