BlackRock and Fidelity's Bitcoin ETFs Surge Amid Market Shifts

The recent surge in Bitcoin ETFs, led by BlackRock and Fidelity, marks a significant shift in the cryptocurrency market, with net inflows reaching $700 million.

Bitcoin-focused investment vehicles saw over $700 million in fresh inflows last week, with BlackRock and Fidelity's ETFs leading the charge.
The inflows to new spot Bitcoin ETFs have offset the outflows from Grayscale's GBTC, highlighting a shift in investor preference.
BlackRock's IBTC and Fidelity's FBTC ETFs recorded $884 million and $674 million in weekly inflows, respectively.
GBTC experienced a notable reduction in outflows, dropping to $927 million from the previous week's $2.2 billion.
Solana topped inflows to altcoin-focused funds with $13 million, while Ethereum and Avalanche saw outflows.