Fidelity Scoops $183.7M in Bitcoin in One Day as Institutional Demand Heightens

The spot Bitcoin ETF has resumed its positive daily inflows after recording a massive $407.78M in net inflow as of July 2nd

Unlike previous days, the inflow this time was led by the Fidelity Wise Origin Bitcoin Fund (FBTC), which added over $183 million in a single day, according to data from Arkham.

After defying its long streak of consistent inflows with a massive $342 million outflow on June 30, spot Bitcoin ETFs have resumed their positive trend, and Fidelity is leading the pack as BlackRock’s IBIT fund saw an unusual zero inflow for the day.

Fidelity scoops 1.02% of Bitcoin supply

The massive Bitcoin accumulation performed by Fidelity over the last day has pushed its total BTC holdings to $20.76 billion as institutional demand for Bitcoin remains on the rise.

While the inflow was distributed across several major Bitcoin funds, Fidelity’s FBTC took the lead, marking the largest daily surge for Fidelity’s fund in a long while. This signals growing institutional confidence in Bitcoin.

Following its latest massive Bitcoin inflow, the total BTC assets held by Fidelity now sit at a whopping $20.76 billion

This impressive growth has also extended to the fund’s market value, which has surged significantly to $8.8 billion, attributable to both robust capital inflows increasingly entering the firm and Bitcoin's resilient price growth since the spot Bitcoin ETF launched last year.

This growth has seen Fidelity scoop up about 1.02% of Bitcoin’s total supply in less than two years. As such, Fidelity ranks second to BlackRock in terms of Bitcoin supply share, as the latter carries up to 3.52% of Bitcoin’s supply.

Despite recurring crypto market volatilities induced by external macroeconomic pressures, Bitcoin has stayed resilient around key support levels as its price holds firm above the $100,000 mark, all thanks to the massive accumulation witnessed among institutional investors.

Following the notable capital inflow experienced today, Bitcoin has shown a decent price gain of 0.45% over the last day, according to data from CoinMarketCap.

Source: CoinMarketCap Notably, Bitcoin is seen trading steadily at around $109,935 as of press time, signaling rising investor confidence as momentum continues to grow.