{"id":348416,"date":"2024-07-20T10:07:43","date_gmt":"2024-07-20T04:37:43","guid":{"rendered":"https:\/\/dripp.zone\/news\/fidelity-overtakes-blackrock-in-surprise-move-crypto-news\/"},"modified":"2024-07-20T10:12:41","modified_gmt":"2024-07-20T04:42:41","slug":"fidelity-overtakes-blackrock-in-surprise-move-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/fidelity-overtakes-blackrock-in-surprise-move-crypto-news\/","title":{"rendered":"Fidelity Overtakes BlackRock In Surprise Move – Crypto News"},"content":{"rendered":"

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On Friday, July 19, the inflows into spot Bitcoin ETFs bounced back strongly once again approaching $400 million for the second day in a week. While BlackRock\u2019s IBIT was the torchbearer of major inflows throughout the past ten days, Fidelity\u2019s FBTC outshined all others on Friday.<\/p>\n

Fidelity Overtakes BlackRock<\/h2>\n

On Friday, Fidelity Bitcoin ETF FBTC saw a staggering $141 million in inflows while BlackRock\u2019s IBIT<\/a> saw $116 million in inflows yesterday. With non-stop inflows over the past 10 days, IBIT has clocked more than $1.3 billion in inflows during this time.<\/p>\n

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Fidelity\u2019s FBTC is also on the verge of hitting a major milestone of crossing more than $10 billion in net assets under management. As of Friday\u2019s closing, the total AUM of FBTC stands at $9.962 billion.<\/p>\n

Almost all other Bitcoin ETFs registered net inflows on Friday. Grayscale\u2019s GBTC also witnessed $20 million in inflows yesterday.<\/p>\n

Also, the high trading volumes in spot Bitcoin ETF show major confidence and excitement among investors. On Friday, BlackRock\u2019s IBIT had a total trading volume of $1.7 billion while Fidelity\u2019s FBTC had a volume of $600 million.<\/p>\n

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Amid the staggering inflows, the Bitcoin price<\/a> has extended its gains by an additional 4% moving past $67,000 levels. The daily trading volume has also surged by more than 37% shooting past $36.5 billion on Friday.<\/p>\n

Also Read: Will US Spot Bitcoin ETFs Reach 1 Million BTC Holdings by the End of July?<\/a><\/p>\n

Bitwise Bitcoin ETF BITB Hits Important Milestone<\/h2>\n

On Friday, the Bitwise Bitcoin ETF clocked $44 million in inflows, thereby taking the total weekly inflows to more than $68 million. Bitwise Investments CEO Hunter Horsley stated that the total assets under management for BITB have now exceeded more than $2.5 billion.<\/p>\n

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A notable feature of the BITB is its support for the Bitcoin development community, with 10% of gross profits donated to open-source Bitcoin developers. \u201cAll 66 of us at Bitwise spend every hour of our days focused on this space. Thank you to investors for entrusting us to be stewards of your capital,\u201d said Horsley. He also encouraged attendees of the Bitcoin Conference<\/a> to greet team members Matt Hougan and Hong Kim if they see them at the event.<\/p>\n

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~$68,000,000 inflows into the Bitwise Bitcoin ETF ( $BITB<\/a> ) this week.<\/p>\n

AUM >$2,500,000,000.<\/p>\n

BITB investors support open source Bitcoin developers with 10% of gross profits donated (details: https:\/\/t.co\/yr8yecUjLV<\/a>).<\/p>\n

All 66 of us at Bitwise spend every hour of our days focused\u2026<\/p>\n

\u2014 Hunter Horsley (@HHorsley) July 19, 2024<\/a><\/p>\n<\/blockquote>\n

Also Read: Donald Trump To Reportedly Announce Bitcoin Strategic Reserve<\/a><\/p>\n

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