The leading fund was Fidelity’s Wise Origin Bitcoin Fund (FBTC), which attracted $117.4M. Other funds with net inflows included Bitwise Bitcoin ETF (BITB), ARK/21 Shares Bitcoin ETF (ARKB), and VanEck Bitcoin Trust (HODL). Meanwhile, the Grayscale Bitcoin Trust (GBTC), which has high fees, continued to see asset outflows.
Regarding price movements, BTC showed a modest rebound after falling from nearly $61K on Wednesday to below $54K early Friday. Currently, the largest cryptocurrency is trading at $55K, which is 6% lower than a week ago and roughly 23% below its all-time high set in mid-March.
The recent price decline was triggered by concerns over a sharp increase in supply, as trustees of the defunct exchange Mt. Gox began returning 140,000 BTC to clients. Additionally, the German government took steps to sell part of the BTC it holds.