FBTC: Breaking Out On Fiat Fears
FBTC made a new all-time high this week. The divergence from other risk assets suggests the move was driven by the Moody's downgrade. The downgrade reminds everyone why crypto is so appealing, but it is not likely to create a sustained divergence as the findings are not new.
FBTC: Bitcoin Mining Health And Gold Rotation Trade
My early-February call in Bitcoin and the Fidelity Wise Origin Bitcoin Fund ETF was poorly timed, but recent ETF inflows suggest improving investor demand for BTC. April's on-chain data shows a decline in Bitcoin's Monthly Active Addresses, indicating a dwindling user base, partly due to ETF adoption. Bitcoin mining sector faces profitability challenges despite high BTC prices, with global hash rate growth and low fees impacting long-term security and decentralization.
FBTC: A Coiled Bitcoin Spring With A Big Bargain
Bitcoin's resilience amid recent market turmoil suggests a potential rally, with strong support from stabilizing Bitcoin flows and bullish defense levels. Fidelity's Wise Origin Bitcoin ETF offers superior Bitcoin exposure, competitive fees, and self-custody, making it an attractive investment vehicle. Positive on-chain net flows for spot Bitcoin ETFs, particularly FBTC and ARKB, maintain upward pressure on Bitcoin's price.
FBTC: Bitcoin Is About To Enter 'Beast Mode'
Bitcoin's network usage has fallen in recent months as measured by daily active addresses, transaction fees, and broad wallet address growth. Network usage declines of this magnitude have historically come during Bitcoin's euphoric phase at the end of halving cycle rallies. Demand from spot ETFs and public companies like MicroStrategy does not appear to be slowing down. Year to date, Bitcoin has accounted for 82% of digital asset capital flow.
FBTC Offers Superior Bitcoin Exposure Versus Other ETFs
Fidelity's Wise Origin Bitcoin ETF offers superior Bitcoin exposure and minimizes security risks by using in-house custodial services, unlike most other Bitcoin ETFs. FBTC provides maximum Bitcoin exposure per share, outperforming peers, making it a top choice for investors seeking Bitcoin exposure through ETFs. The fund's shares outstanding are managed well versus Fidelity's Bitcoin treasury making this a superior ETF compared to other Bitcoin ETFs.
Bitcoin ETFs Showdown: FBTC Trails IBIT In Liquidity But Fits Retirement Accounts
With Bitcoin surpassing $100,000, the Fidelity Wise Origin Bitcoin Fund is among the most prominent ETFs approved in 2024. I compare this fund to the iShares Bitcoin Trust ETF. FBTC boasts strong marketing support from Fidelity, a competitive 0.25% expense ratio, and AUM of $19.63 billion. However, its liquidity lags behind IBIT, with a higher average bid/ask spread. IBIT benefits from a "virtuous cycle," where its superior liquidity attracts frequent traders, enhancing its spread. In contrast, FBTC experiences a "vicious cycle," with declining trading activity.
FBTC: Bullish Despite The Risks
Recent USDJPY carry trade sell-off highlighted liquidity risks, but Bitcoin's recovery indicates market overreaction. A repeat of the situation doesn't look likely as it won't come as such a big surprise. Bitcoin is consolidating near its all-time high, showing a bullish cup and handle pattern. A breakout should be setting up into the end of the year.
FBTC: The Pick And Shovel ETF For Bitcoin Exposure
Spot Bitcoin ETFs have seen impressive inflows and institutional investments since launch, with daily inflows majorly outpacing the total daily produced BTC on the Bitcoin network since the halving. Fidelity's Wise Origin Bitcoin Fund ETF stands out with experience in crypto-focused products, self-custody, low expense ratio, and strong infrastructure for Bitcoin investing. FBTC is emerging as a leader in inflows among spot Bitcoin ETFs, as its low fees, decent liquidity and high on-chain BTC balance attract ample investments into the fund.
A Second Half Outlook for Bitcoin and Crypto
Bullish investor sentiment for bitcoin appeared to taper at the midyear point as volatility spiked. Fidelity's digital asset research director dove into the most prominent trends to watch regarding bitcoin at the midyear point.
U.S. Weekly Fund Flows Insight Report: Equity ETFs See Their Third Outflow Over The Last 4 Weeks
During LSEG Lipper's fund flows week that ended June 19, 2024, investors were overall net redeemers of fund assets for the first week in three, removing a net $30.0 billion. Taxable bond funds, alternative investments, and tax-exempt bond funds posted net inflows. Conventional equity funds posted a weekly return of positive 0.19%, the third straight week of gains.
U.S. Weekly FundFlows Insight Report: Money Market Funds Add $29.2 Billion During First Week Of June
During LSEG Lipper's fund-flows week that ended June 5, 2024, investors were overall net purchasers of fund assets for the sixth week in seven, adding a net $39.4 billion. Mixed-assets funds (-$389 million) and alternative investments (-$186 million) reported outflows. In aggregate, spot bitcoin ETFs saw an inflow (+$1.2 billion) over the week, led by Fidelity Wise Origin Bitcoin Fund (FBTC) which logged its largest inflow (+$602 million) since the week ending March 13, 2024.
Are Spot Bitcoin ETFs Millionaire Makers?
As Bitcoin's finite supply comes under more demand, spot Bitcoin ETFs open the door for hopeful millionaires.
