Daan Crypto Trades, according to top cryptocurrency trader XIt’s clear that BlackRock’s IBIT and Fidelity’s Bitcoin ETFs are performing well.
#bitcoin ETF cumulative flow👇
Obviously, BlackRock $IBIT and Fidelity’s $FBTC is the real winner here, contributing about 75% of the net inflows.
grayscale $GBTC Clearly the biggest loser, losing nearly half Bitcoin USD Since then holding shares. pic.twitter.com/aK1veKSXuk
— Daan Crypto Trades (@DaanCrypto) April 1, 2024
He also revealed that these two ETF products accounted for approximately 75% of the new inflows into Bitcoin ETFs.
Top Traders Reveal Bitcoin ETF Winners and Losers
When Daan Cryptocurrency Trades applaud Although IBIT and FBTC contributed about 75% of total ETF inflows, he noted that Grayscale’s GBTC suffered the largest losses.
Daan said that since entering the Bitcoin ETF market, GBTC has lost nearly half of its BTC investment.
Despite the reversal in some ETFs such as GBTC, analysts’ March 13 update Hu Weili It was revealed that daily inflows into Bitcoin network storage rose to $2 billion within the daily time frame.
Woo said this is the level Bitcoin inflows reached during the last bull run and is likely to continue to increase.
Additionally, Woo believes spot ETFs are responsible for increased Bitcoin inflows.
Furthermore, he famous Inflows are measured on-chain so it includes all investors and is at least 90% accurate. Therefore, according to his analysis, ETFs account for approximately 30% of total Bitcoin inflows.
Another investor, a market analyst at Woo, responded: Ben HerringIt is believed that based on the improvement in Bitcoin prices, the inflow ratio is at least 50%.
Additionally, the Bitcoin ETF’s performance has improved significantly over the past 24 hours. Today, April 1st, IBIT records The top 24 trading volumes were US$1.18 billion, with GBTC ranking second with a trading volume of US$752.23 million.
In addition, FBTC ranked third with a 24-hour trading volume of $659.88 million, showing huge investor interest.
James Seyffart provides important BTC ETF update
According to financial analysts James SeifertSome ETFs listed on Fidelity’s platform are about to undergo major changes.
Additionally, analysts revealed that under the new plan, which will take effect on June 3, investors will face a $100 service fee when placing a buy order for a group of ETFs.
Some ETFs listed on the Fidelity platform are about to undergo major adjustments.story from @emily_graffeo & @kgreifeld.
“Investors will face a $100 service fee when purchasing a batch of ETFs under the plan that will take effect on June 3” https://t.co/Ti7xdrCZLb
— James Seyff (@JSeyff) March 29, 2024
In addition, Bloomberg report Fidelity Investments will impose new fees on ETFs offered by nine companies, including Simplify Asset Management Inc. and AXS Investments.
According to Bloomberg, this new fee structure covers the cost of listing its products on Fidelity’s platform.
Additionally, the new fees apply to smaller minority companies that are not part of a Fidelity maintenance arrangement. Other companies on this list that charge $100 include Day Hagan, Sterling Capital, Cambiar, Adaptive, Rayliant, and Running Oak.
However, the list will be updated regularly leading up to the June 3 implementation date.according to a Fidelity spokespersonsupport fees help maintain technology and service operations to provide investors with a safe and positive experience.
This arrangement is not new to Fidelity, as investment firms typically pay a fee to support the platform’s operations.
It is worth noting that in 2019, Fidelity cut off They offer zero trading commissions when buying and selling stocks, ETFs, and options online. These new fees may be a safety measure against potential outflows from the ETF to protect profitability.
