Cathie Wood’s ARK21 Shares Bitcoin ETF Surpasses Grayscale’s GBTC In Outflows For The First Time

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Bitcoin ETF
Bitcoin ETF

Join Our Telegram channel to stay up to date on breaking news coverage

Cathie Wood’s ARK 21 Shares Bitcoin ETF (exchange-traded fund) recorded larger daily outflows than Grayscale’s Bitcoin Trust (GBTC) for the first time since spot Bitcoin ETFs were approved in January.

The ARK21 Shares Bitcoin ETF (ARKB) suffered $87.5 million in outflows on Apr. 2, according to data from Farside Investors. GBTC, which has posted consistently large outflows since its conversion to a spot ETF in January, lost $81.9 million on the same day.ARK Invest on X: "Why ARK & 21Shares? ARK's been on the forefront of crypto research since 2014 & was the first fund manager to gain exposure to bitcoin in 2015. 21Shares

ARK21 Shares Bitcoin ETF Records Outflows For Two Consecutive Days

It was the second consecutive day of outflows for ARKB, following a $300k bleed on its first-ever day of outflows on Apr. 1.

Despite that, ARKB remains the third-largest spot Bitcoin ETF of the ten newly-launched funds, excluding GBTC, with $2.2 billion in assets under management (AUM).

ARKB is also the sixth-largest holder of Bitcoin among corporations, funds and miners, with a total of 44,662 BTC on its books, according to data from HODL15Capital.

https://twitter.com/HODL15Capital/status/1775337210868330938

In the lead are BlackRock’s and Fidelity’s ETFs, with AUMs of $14.1 billion and $7.6 billion, respectively. Another $150.5 million entered BlackRock’s IBIT on Apr. 2, which allowed the spot Bitcoin ETFs to record a net aggregate inflow of $40.3 million, despite the outflows from both ARKB and GBTC.

GBTC Maintains The Number One Spot

With an average outflow of $254 million per day throughout the last five trading days, GBTC’s $81.9 million outflows on Apr. 2 was below average. Overall, the fund has lost approximately $15.1 billion in total in just the last three months, as investors move to spot Bitcoin ETFs with lower fees

GBTC remains the biggest holder of BTC, with approximately 329.27k Bitcoin on its books. This is after it shed a whopping 291,000 BTC.

Related Articles:

Newest Meme Coin ICO - Wall Street Pepe

Rating

Wall Street Pepe
  • Audited By Coinsult
  • Early Access Presale Round
  • Private Trading Alpha For $WEPE Army
  • Staking Pool - High Dynamic APY
Wall Street Pepe

Join Our Telegram channel to stay up to date on breaking news coverage

Read next

Please enter Coingecko Free Api Key to get this plugin works