BlackRock's IBIT and Fidelity's FBTC are attracting the vast majority of new bitcoin ETF money, leaving smaller funds increasingly sidelined as institutional investors consolidate around the industry's largest players.

BlackRock's IBIT saw $213.63M in Bitcoin outflows on June 5, part of a $4.4B redemption wave across US spot Bitcoin ETFs over 13 days.

BlackRock's IBIT and Fidelity's FBTC are attracting the vast majority of new bitcoin ETF money, leaving smaller funds increasingly sidelined as institutional investors consolidate…