Fidelity’s Wise Origin Bitcoin Fund became the second spot Bitcoin ETF to surpass $1 billion in inflows, achieving this feat just five days into trading.

Following closely on the heels of BlackRock’s iShares Bitcoin Trust (IBIT), the first of the newly approved BTC ETFs to hit the $1 billion assets under management milestone on Jan. 17, Fidelity’s FBTC accumulated $874 million in inflows up to that point.

Provisional data shared on Jan. 19 by BitMEX Research on their X page indicated that Fidelity’s total inflows reached over $1 billion on the fifth day of trading, positioning it just behind BlackRock’s $1.2 billion. This development marks a significant moment in cryptocurrency investment, emphasizing the growing investor interest in Bitcoin (BTC) and related products.

Fidelity’s achievement places it ahead of Bitwise’s BITB fund, which reported $395 million in inflows, demonstrating the market’s competitive nature. Other spot Bitcoin ETFs that have shown notable performance since trading began on Jan. 11 include ARK 21Shares’ ARKB and Invesco’s BTCO, with inflows of $320 million and $194 million, respectively.

Despite the impressive start, the overall market witnessed a substantial outflow on the fifth day of trading, totaling $131 million across all spot Bitcoin ETFs. This was the largest outflow observed since the launch of these funds. Grayscale, in particular, recorded $2.2 billion in outflows, underscoring the volatile nature of the cryptocurrency market.