Fidelity’s Wise Origin Bitcoin Fund attracted USD 236.7 million in net inflows on November 4, helping U.S. spot Bitcoin ETFs return to positive territory after three consecutive sessions of withdrawals.
Farside Investors recorded the inflow into Fidelity’s FBTC fund as total US spot Bitcoin ETF inflows reached USD 74.6 million. The gain came despite USD 201.2 million in withdrawals from BlackRock’s iShares Bitcoin Trust, known as IBIT.
FBTC recorded the largest net inflow among the funds tracked by Farside on November 4. Other funds also received money, including Bitwise’s BITB with USD 15.2 million, ARK Invest’s ARKB with USD 19.9 million, and Invesco’s BTCO with USD 4 million.
The industry-wide positive reading followed net outflows of USD 643.2 million on October 30, USD 398.6 million on November 2, and USD 115.6 million on November 3. The November 4 recovery ended that three-session run, although the latest gain did not offset those withdrawals.
Fidelity’s daily flow also exceeded its USD 103.1 million inflow on October 13 and USD 212.7 million on October 21. However, demand has varied sharply. FBTC lost USD 201 million on October 30 before recording inflows of USD 6.7 million and USD 6.8 million on November 2 and 3, respectively.
Farside’s data puts FBTC’s cumulative net inflows at approximately USD 10.43 billion since launch. The latest figures follow a period of uneven Bitcoin ETF demand as investors adjusted their exposure to the cryptocurrency.
FBTC holds Bitcoin to track its market price rather than using futures contracts. Investors purchase fund shares through brokerage accounts, gaining price exposure without directly controlling Bitcoin or private keys.
The fund’s SEC prospectus explains that authorized participants can create shares by delivering Bitcoin or cash used to acquire Bitcoin. Redemptions can likewise involve Bitcoin or cash. These arrangements mean fund subscriptions support demand for Bitcoin, but daily flow figures do not identify individual purchases.
Therefore, describing the inflow as a “USD 236.72 million Bitcoin purchase” requires separate transaction evidence. The reported USD 236.7 million represents net money entering FBTC, not a confirmed standalone trade by Fidelity for its corporate account.
FBTC charges an annual fee of 0.25%. Fidelity Digital Assets provides Bitcoin custody, while the fund offers investors exposure through shares listed on the Cboe BZX Exchange.
Outside ETF investments, companies have also raised capital to add Bitcoin to their balance sheets. Fidelity Digital Assets reported that preferred-stock financing helped Bitcoin treasury firms accumulate 135,979 BTC as of October 5, 2026.
The amount represents more than 0.5% of Bitcoin’s fixed 21 million supply. The research examines preferred shares that companies issue to raise funds for Bitcoin purchases while offering investors dividend payments.
Unlike ETF subscriptions, further purchases through this route depend on companies raising new capital and managing payment commitments. Recent reporting on Bitcoin treasury funding risks examined those obligations.
These arrangements differ from spot Bitcoin ETFs. ETF shareholders gain exposure through a fund, whereas preferred-stock investors hold securities issued by businesses. Meanwhile, the broader Bitcoin market outlook continues to track ETF flows as a separate source of investor activity.
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