In the latest trading session, the cryptocurrency landscape witnessed a surge of activity in the Bitcoin exchange-traded fund (ETF) market. Grayscale's Grayscale Bitcoin Trust (GBTC) recorded a notable $3.9 million in net inflows, while Fidelity's Wise Origin Bitcoin Fund (FBTC) led the charge with substantial inflows of around $99 million, outpacing BlackRock's iShares Bitcoin Trust (IBIT), which saw inflows of approximately $21.5 million.

This is not the first time Fidelity has outperformed BlackRock in daily Bitcoin ETF inflows. Last Friday, the disparity was even more pronounced, with FBTC's inflows exceeding $102 million compared to IBIT's $13 million.

The spotlight, however, is on GBTC, which has been the subject of attention. Last Friday, the fund attracted $63 million in inflows, marking the first time since its conversion that it has experienced such a positive trend, breaking its prolonged outflow streak.

Despite the influx, Nate Geraci, the president of The ETF Store, expressed cautious optimism about the sustainability of these inflows. He noted that the diverse group of ETF buyers may have varying motivations, and it remains to be seen whether the inflows will become a lasting trend.

One factor that has been cited as a potential reason for GBTC's asset outflow is its high fee of 1.5%, which is notably higher than its ten competitors in the US market. Additionally, the liquidation of holdings by the bankrupt lender Genesis has contributed to the decline in GBTC's assets.

Nevertheless, Grayscale maintains its lead in assets under management within the category, with GBTC managing approximately $17.4 billion, while IBIT is a close second at around $15.4 billion.

Overall, the US spot Bitcoin ETF market enjoyed a day of net inflows, totaling $217 million. However, this positive movement in the ETF space did not translate into a corresponding increase in Bitcoin's price, which hovered around $63,400, showing a 1.5% decrease over the past 24 hours, according to CoinGecko.