Fidelity Just Schooled BlackRock in the Bitcoin ETF Arms Race

Wall Street''s crypto gold rush just got a plot twist—Fidelity''s Bitcoin ETF just outpaced BlackRock''s for the first time. Guess even trillion-dollar asset managers can''t resist chasing the orange coin.

Who needs boring old bonds when you can YOLO into digital scarcity? The suits are finally waking up—though we give it six months before they start complaining about volatility.

TLDR

• Fidelity’s FBTC led all U.S. Bitcoin ETFs on June 9 with $172.99 million in daily net inflows.
• BlackRock’s IBIT followed with $120.93 million, marking a rare shift in daily ETF leadership.
• Despite this, IBIT remains the largest Bitcoin ETF with $71.97 billion in assets under management.
• Fidelity’s FBTC now manages $21.51 billion and has seen $11.61 billion in total net inflows.
• Grayscale’s GBTC continued to post outflows and has lost $23.25 billion since its conversion.

On June 9, Fidelity took the lead in daily Bitcoin ETF inflows, surpassing BlackRock’s long-standing dominance. Fidelity’s FBTC fund secured $172.99 million in inflows, beating BlackRock’s IBIT, which saw $120.93 million. This marked a significant shift in daily demand among Bitcoin ETFs.

The gap between the top two remains large, but Fidelity’s daily lead brought renewed attention to shifting market preferences. Both funds saw strong inflows, yet FBTC’s performance broke IBIT’s recent streak. This shift underlined growing interest across multiple ETF issuers beyond just BlackRock.

The total net inflow for all U.S. bitcoin ETFs on June 9 reached $386.27 million. This pushed Bitcoin ETF holdings above 6% of Bitcoin’s total market capitalization. The price of Bitcoin remained steady around $108,800 during this time.

Fidelity Gains Ground with FBTC Surge

Fidelity’s FBTC fund led all Bitcoin ETFs in daily inflows on June 9 with $172.99 million. This performance outpaced its closest rival, BlackRock’s IBIT, and stood out in a competitive field. It highlighted the first major shift in inflow leadership in recent months.

Fidelity now manages $21.51 billion in assets for its FBTC fund. The total net inflow into FBTC has reached $11.61 billion since launch. Although BlackRock still leads overall, this change in daily flows was significant.

Fidelity’s fee structure and steady performance may have played a role in its recent momentum. FBTC continues to build a stronger presence despite being smaller in asset size. Its inflows indicate growing attention to alternative Bitcoin ETF options.

BlackRock’s IBIT Maintains Dominance Despite Daily Drop

BlackRock’s IBIT recorded $120.93 million in inflows on June 9, trailing Fidelity’s FBTC. IBIT had consistently led in daily inflows before this shift. The fund remains the largest in the market by asset size.

IBIT now manages $71.97 billion, with total net inflows of $48.77 billion since launch. It recently became the fastest ETF to reach $70 billion in assets. This milestone took less time than any comparable financial product, including Gold.

Despite being edged out on June 9, IBIT remains a central force in the Bitcoin ETF space. Its performance continues to reflect sustained institutional demand. However, this lead is now facing stronger challenges from other issuers.

Other ETFs Show Steady Growth While GBTC Struggles

Bitwise’s BITB reported $68.55 million in inflows and now manages over $2 billion in assets. Ark Invest’s ARKB brought in $10.83 million and crossed $2.4 billion in total net inflows. VanEck’s HODL also gained $7.68 million, maintaining growth on a smaller scale.

Grayscale’s GBTC posted continued outflows with no net inflow reported. Since launch, GBTC has lost $23.25 billion and now holds around $20 billion. High fees and older structures appear to limit new inflows.

Valkyrie, Franklin Templeton, and Invesco had no daily inflows but still outperform smaller competitors. The data reflects a clear divide among ETF issuers. New demand is favoring low-fee, high-liquidity products in the current market.