Fidelity (FBTC) becomes 3rd Bitcoin ETF to Reach 150,000 BTC Holdings

On April 10, Fidelity’s FBTC spot Bitcoin exchange-traded fund officially crossed 150,000 BTC in assets under management. The newborn-nine spot bitcoin ETFs — excluding Grayscale’s converted GBTC fund — total more than 520,000 BTC.

Fidelity (FBTC) Hits 150,000 BTC Milestone

Fidelity’s FBTC has amassed a total of 150,563 BTC in assets — worth around $10.1 billion at current prices — according to the funds’ latest disclosure.

Of the newborn-nine ETFs, BlackRock’s IBIT currently leads with 263,937 BTC ($18.5 billion) and Ark Invest 21Shares’ ARKB is third with 43,726 BTC ($3.1 billion), according to CoinGlass data.

In comparison, assets held by Grayscale’s higher fee GBTC fund have fallen 48% from 619,220 BTC to 322,697 BTC in the same period. The combined assets held by all the U.S. spot Bitcoin ETFs is now at 842,897 BTC — more than 4% of bitcoin’s total 21 million supply.

In terms of market share of bitcoin holdings among the ETFs, Grayscale’s higher-fee GBTC fund has dropped to 38.6% since trading began on Jan.11. BlackRock’s IBIT has gained the most market share at 31.3%, followed by Fidelity’s FBTC on 17.7% and Ark Invest 21Shares’ ARKB on 5.2%, according to The Block’s data dashboard.

Blackrock and Fidelity Forging ahead despite subdued net outflows

On Monday April 8, the U.S. spot Bitcoin ETFs witnessed their worst day for net outflows since March 20 on Monday, with a total of $223.8 million leaving the funds as $303.3 million worth of outflows from Grayscale’s GBTC overpowered muted inflows from the other ETFs.

Meanwhile Fidelity’s FBTC still managed $6.3 million in inflows — albeit its fourth worst day and a small fraction of its record daily inflow of $473 million that was recored on March 7.

However, IBIT and FBTC have now registered inflows for 59 consecutive trading days, entering the all-time top 20, Bloomberg ETF analyst Eric Balchunas noted yesterday. “That said they are in league of their own when it comes to active streaks or streaks for newborns,” he added.

In terms of price action, Bitcoin is currently trading for $70,755, at the time of writing on April 11. The largest cryptocurrency by market cap has recovered from Grayscale’s GBTC outflows, surging up 2% over the past 24 hours but has gained 50% in the last 60-days and 67% year-to-date.