Fidelity’s Bitcoin ETF, Wise Origin Bitcoin Fund (FBTC), saw a significant inflow of $183 million on July 2, bringing its total Bitcoin holdings to $20.76 billion. This surge in inflows allowed Fidelity to lead all funds in daily inflows, marking a notable shift in the market dynamics. The total Bitcoin holdings now represent approximately 1.02 percent of the total Bitcoin supply, underscoring Fidelity’s growing influence in the digital asset market. The market value of FBTC has also increased to $8.8 billion, reflecting the fund’s robust performance.
Spot Bitcoin ETFs experienced a reversal of fortunes on July 2, with a net inflow of $407.78 million following a prior outflow of $342 million on June 30. This turnaround signals renewed momentum in the sector, as institutional investors continue to show confidence in Bitcoin despite ongoing macroeconomic uncertainties. The inflows indicate a growing institutional faith in Bitcoin, with the currency maintaining a high base in the region of 100,000. Bitcoin’s price experienced a slight positive shift, rising by 0.45% within a day, and is currently trading at approximately $109,935, according to CoinMarketCap. This price resilience suggests sustained investor interest and confidence in the digital asset.
While Fidelity’s fund gained momentum, BlackRock’s iShares Bitcoin Trust (IBIT) reported no inflows for the day. This pause allowed Fidelity to take the lead as the most active institutional buyer of Bitcoin for the day. The shift in fund activity indicates a potential realignment in investor behavior as they adjust to the current macroeconomic conditions. The inflows and the increase in the value of funds suggest a restoration of capital in the spot Bitcoin ETFs, with institutional investors steadily ramping up their holdings. This trend is likely to influence the Bitcoin price as the pattern of its accumulation becomes more visible.
