{"id":499781,"date":"2024-04-03T08:05:59","date_gmt":"2024-04-03T08:05:59","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=499781"},"modified":"2024-04-03T09:47:13","modified_gmt":"2024-04-03T09:47:13","slug":"cathie-woods-ark21-shares-bitcoin-etf-surpasses-grayscales-gbtc-in-outflows-for-the-first-time","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/cathie-woods-ark21-shares-bitcoin-etf-surpasses-grayscales-gbtc-in-outflows-for-the-first-time","title":{"rendered":"Cathie Wood\u2019s ARK21 Shares Bitcoin ETF Surpasses Grayscale’s GBTC In Outflows For The First Time"},"content":{"rendered":"

Cathie Wood’s<\/span><\/a> 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.<\/span><\/p>\n

The ARK21 Shares Bitcoin ETF (ARKB) suffered $87.5 million in outflows on Apr. 2, according to <\/span>data<\/span><\/a> 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<\/span><\/p>\n

ARK21 Shares Bitcoin ETF Records Outflows For Two Consecutive Days<\/span><\/h2>\n

It was the second consecutive day of outflows for ARKB, following a $300k bleed on its first-ever day of outflows on Apr. 1. <\/span><\/p>\n

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).<\/span><\/p>\n

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.<\/span><\/p>\n

https:\/\/twitter.com\/HODL15Capital\/status\/1775337210868330938<\/p>\n

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 <\/span>BlackRock’s<\/span><\/a> 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.<\/span><\/p>\n

GBTC Maintains The Number One Spot<\/span><\/h2>\n

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 <\/span>lower fees<\/span><\/a><\/p>\n

GBTC remains the biggest holder of BTC, with approximately 329.27k Bitcoin on its <\/span>books<\/span><\/a>. This is after it shed a whopping 291,000 BTC.<\/span><\/p>\n

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