Summary
Bitcoin ETFs saw positive net flow for the first time in a week, taking in 228.97 BTC worth roughly $15 million. Fidelity Wise Origin Bitcoin Fund had the most inflows, while Grayscale Bitcoin Trust saw significant outflows. The success of new ETFs has shown institutional demand for BTC, boosting Coinbase’s stock price. Coinbase’s Q1 earnings call in May will reveal more about their relationship with Bitcoin.
Key Points
1. Spot Bitcoin ETFs saw a net inflow of 228.97 BTC, marking the first positive net flow since March 15th.
2. The Fidelity Wise Origin Bitcoin Fund (FBTC) led the way with $262 million in BTC inflows, followed by BlackRock’s iShares Bitcoin Trust (IBIT) and Franklin Templeton’s Franklin Bitcoin ETF (EZBC).
3. Despite outflows from the Grayscale Bitcoin Trust (GBTC), the success of new ETFs has shown institutional demand for Bitcoin, with Coinbase shares benefiting from BTC gains.