Fidelity Bitcoin ETF Draws $236.7M Amid Rival Outflows

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Fidelity’s Wise Origin Bitcoin Fund (FBTC) attracted $236.7 million in net inflows on November 4, 2026, according to Farside Investors, contrasting with heavy recent redemptions from BlackRock’s competing Bitcoin fund.

The inflow marked Fidelity’s third consecutive positive trading session after a sharp industry-wide sell-off in late October. Fund-flow records show a difference in investor activity between the two major U.S. spot Bitcoin exchange-traded funds.

Fidelity attracted $250.2 million in cumulative net inflows between November 2 and November 4, while BlackRock’s IBIT recorded $500.3 million in combined redemptions over November 2 and November 3.

Fidelity Bitcoin ETF Inflows Accelerate

Fidelity’s recovery began with relatively small positive flows. Its fund attracted $6.7 million on November 2, followed by $6.8 million on November 3.

Both sessions preceded a substantially larger increase in reported net subscriptions.

The November 4 result therefore represented a marked acceleration rather than the beginning of a new positive-flow sequence. The figures show that investor demand through Fidelity’s product strengthened even as another major Bitcoin fund experienced withdrawals.

The contrast matters because the funds provide exposure to the same underlying cryptocurrency. Their differing flows suggest that demand was not distributed evenly between providers during the period examined.

However, the figures do not establish whether investors directly transferred holdings from BlackRock to Fidelity. Separate fund-flow records cannot independently identify the investment decisions or motivations behind individual creations and redemptions.

October Sell-Off Provides Market Context

On October 30, the 12 U.S. spot Bitcoin ETFs recorded combined net outflows of $643.2 million, according to Farside Investors.

BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $233.7 million in withdrawals that session, while Fidelity’s FBTC recorded $201.0 million in net redemptions.

These withdrawals established the immediate context for Fidelity’s subsequent recovery. Both leading products had experienced substantial selling pressure before their daily capital flows began moving in different directions.

Fidelity subsequently returned to positive daily net flows on November 2, following its October 30 redemptions.

The October figures also show that the selling extended beyond a single issuer. Nevertheless, the subsequent differences between the two funds demonstrate why individual ETF results must be examined alongside market-wide totals rather than treated as interchangeable indicators.

Historical Bitcoin ETF Fund Flows

The following figures from Farside Investors show Fidelity’s daily changes against the broader market where a comparable total is identified.

The November 3 market-wide outflow is particularly relevant because Fidelity attracted capital during a session when the broader group experienced net withdrawals.

The November 4 figure establishes the scale of Fidelity’s individual result, but it should not be interpreted as evidence that every U.S. Bitcoin ETF attracted fresh investment that day.

Fidelity and BlackRock’s Historical Positions

Farside Investors recorded Fidelity’s cumulative net inflows at $10.432 billion as of November 4, compared with BlackRock’s cumulative $65.810 billion. These figures measure historical net investor flows, not current assets under management.

The cumulative totals provide a longer-term perspective on the latest daily changes. BlackRock has attracted substantially more net investment since the U.S. spot Bitcoin ETF products began operating in January 2024.

Fidelity’s latest result therefore does not overturn the established difference in historical capital raised by the two providers. Instead, it illustrates how short-term subscription activity can differ from cumulative performance.

Both products operate within the U.S. regulated investment market, with Fidelity’s fund listed on Cboe BZX and the products subject to Securities and Exchange Commission oversight.

Their ETF structures allow investors to obtain Bitcoin exposure through securities accounts. Fund creations and redemptions involve authorised participants, distinguishing reported ETF investment flows from direct cryptocurrency purchases on spot trading platforms.

Investor Exposure and Regulatory Risks

Investors remain exposed to Bitcoin price volatility and digital-asset custody risks. ETF shares are not FDIC-insured bank deposits.

Neither U.S. deposit insurance nor European deposit-guarantee arrangements such as Einlagensicherung provide protection against losses arising from Bitcoin market movements.

Recorded inflows also should not be confused with investment profits. A positive daily fund-flow figure measures net capital entering a product, not the return earned by existing shareholders.

The distinction is important when assessing Fidelity’s performance. Its latest subscriptions indicate renewed investment through the fund, but do not independently establish an increase in Bitcoin’s market price or guarantee future appreciation.

What the Latest Flows Mean

Fidelity’s three-session recovery and BlackRock’s earlier withdrawals represent different patterns of investor activity rather than proof of a direct transfer between the funds.

The next daily fund-flow reports will help establish whether Fidelity’s stronger subscriptions persist and whether BlackRock’s redemption trend changes. Further market-wide totals will also clarify whether the latest demand reflects broader buying or remains concentrated among individual issuers.

Trading Session	Fidelity FBTC Daily Flow	Total Market Flow	Source
Oct 30, 2026	-$201.0 million	-$643.2 million	Farside Investors
Nov 2, 2026	+$6.7 million	Not specified	Farside Investors
Nov 3, 2026	+$6.8 million	-$116.0 million	Farside Investors
Nov 4, 2026	+$236.7 million	Not specified	Farside Investors