##  [# ETF Spotlight: FBTC Flows Soar as Bitcoin ETFs Roar](/sections/features/etf-spotlight-fbtc-flows-soar-bitcoin-etfs-roar) 

 

# ETF Spotlight: FBTC Flows Soar as Bitcoin ETFs Roar

 

 

The Fidelity spot bitcoin fund has added more than $1 billion in net flows over the past month.



 

 

 

 

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[By James Rubin](/authors/james-rubin)

 Jun 07, 2024

 Edited by: Ron Day

 

 

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The [**Fidelity Wise Origin Bitcoin Fund (FBTC)**](https://www.etf.com/FBTC) generated nearly $680 million in daily inflows over a two-day period earlier this week, spearheading the latest spike in a month-long upturn for the fledgling spot bitcoin exchange traded funds.

FBTC has reached more than $9.5 billion in net flows to rank a solid second behind [**BlackRock's iShares Bitcoin Trust (IBIT)**](https://www.etf.com/IBIT) among the 11 products that began trading this year. This week it eclipsed IBIT, which generated a still respectable $430 million in net flows.

"Fidelity not messing around," Bloomberg Senior ETF Analyst Eric Balchunas [tweeted](https://x.com/EricBalchunas/status/1798156058487382232) on Wednesday after the previous day's $379 million upswing.

The recent jump in flows has come as demand for digital asset-focused investments resumes, a result of growing investor comfort with the assets and perception that regulators have become more receptive to them. Bitcoin was recently trading over $71,000, roughly flat over the past 24 hours and down from its all-time high above $73,000 in March, but the asset is up more than 2.5% for the week and 61% year-to-date.

![etf.com: FBTC flows. ](/sites/default/files/inline-images/Screen%20Shot%202024-06-06%20at%2012.17.15%20PM.png)

Spot bitcoin ETFs are based on the ongoing price of bitcoin, the largest cryptocurrency by market capitalization.

FBTC has generated more than $1 billion in flows over the past month behind only IBIT. Those two funds have accounted for an approximately $3.8 billion upswing in flows over this period. Flows into the products rested at the end of March and into April following a torrid beginning in which IBIT became the fastest fund in ETF history to pass $10 billion in inflows.

In an email to etf.com, Bloomberg ETF Analyst James Seyffart attributed the increased ETF flows to a change in the political climate in which crypto-shy Democrats have joined Republicans to show support for digital assets.

"I think the flows we are seeing now into bitcoin ETFs are partly a culmination of this shift," Seyffart said, adding: "We are also about 5 months into the spot bitcoin ETFs' existence, it's possible different wealth platforms, advisors, and institutions are allowing more investment into the ETFs."

Issuers won long-sought approval from the Securities and Exchange Commission on Jan. 10 to begin trading, overcoming the agency's concerns about fraud and market manipulation.



 

 

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 [ James Rubin Contributing Editor ](/authors/james-rubin) 

 

 

  James Rubin is a contributing editor for etf.com, where he produces the Morning Exchange and Weekly Exchange newsletters. A longtime financial writer,…   [View Bio](/authors/james-rubin)

 



 

 


 Related Topics  [Crypto](http://www.etf.com/topics/cryptocurrency) 

 [Spot Bitcoin](http://www.etf.com/topics/spot-bitcoin) 

 [Bitcoin](http://www.etf.com/topics/bitcoin)