#CathieWood ’s $ARK #BitcoinETF has record $87M outflow, surpassing GBTC
Today marked the second consecutive day of outflows from ARK 21Shares’ spot Bitcoin ETF, Cathie Wood's ARK 21 Shares Bitcoin exchange-traded fund (ETF), witnessing more than $87 million in daily outflows. This marks the first instance where the fund experienced larger daily outflows compared to Grayscale’s Bitcoin Trust (GBTC) since the launch of spot Bitcoin ETFs in the United States.
Preliminary data from Farside Investors indicates that the outflow from Ark 21Shares fund (ARKB) amounted to $87.5 million on April 2, approximately equivalent to 1,300 BTC. Notably, this follows the fund's loss of $300,000 in assets on its inaugural day of outflows on April 1.
#grayscale , which has consistently posted outflows every trading day since its transition to a spot ETF, reported another daily outflow of $81.9 million. Despite this, it was a comparatively low outflow day for GBTC, which has seen an average outflow of $254 million per day over the past five trading days, resulting in a total outflow of approximately $15.1 billion in the last three months.
However, a $150.5 million inflow for BlackRock's fund contributed to a net aggregate inflow of $40.3 million for the day, despite the outflows from ARKB and GBTC.
Although ARKB experienced two consecutive days of outflows, it remains the third-largest among the ten newly launched spot ETFs, excluding Grayscale, with assets under management (AUM) totaling $2.2 billion.
ARKB trails behind BlackRock’s and Fidelity’s funds, which command AUMs of $14.1 billion and $7.6 billion, respectively. Additionally, ARKB ranks as the sixth-largest holder of BTC among funds, corporations, and miners, currently holding a total of 44,662 BTC on its books, according to data from HODL15Capital.
Despite GBTC shedding a significant 291,000 Bitcoin since its ETF conversion, it continues to lead in terms of total Bitcoin held, with approximately 329,000 Bitcoin held at the time of publication.
Source - cointelegraph.com
