Fidelity's Dominance Continues as Bitcoin ETFs See $324.6M Influx

U.S. spot Bitcoin ETFs recorded significant net inflows on September 18, totaling $324.6 million. Fidelity's Wise Origin Bitcoin Fund was responsible for a massive $310.7 million of this influx, accounting for nearly 96% of the total.

This surge in demand comes after two consecutive days of outflows, where funds recorded a combined $450.4 million and $295.9 million on September 15 and 16 respectively. On September 17, there was a partial rebound with $159.5 million in net inflows.

The concentration of this influx is noteworthy, as it highlights the bursty and highly concentrated nature of institutional crypto ETF demand. Fidelity's dominance in this market has become increasingly evident, with their fund absorbing the majority of the incoming capital.