The Ark 21Shares Bitcoin ETF, managed by Cathie Wood, recently experienced significant daily outflows, surpassing $87 million, a noteworthy occurrence in the realm of spot Bitcoin exchange-traded funds (ETFs) in the United States. This marks the first instance where daily outflows from the ARK 21Shares Bitcoin ETF have exceeded those of Grayscale's Bitcoin Trust (GBTC).
According to data from Farside Investors, on April 2, the Ark 21Shares Bitcoin ETF witnessed outflows totaling $87.5 million, equivalent to approximately 1,300 BTC. This follows a trend, as the ETF also experienced outflows the previous day, with assets decreasing by $300,000 on April 1st.
Grayscale, which has consistently seen outflows since transitioning to a spot ETF, recorded daily outflows of $81.9 million. Despite this, it was a comparatively lower outflow day for GBTC, which has averaged $254 million in outflows per day over the past five trading days. In the last three months alone, Grayscale lost approximately $15.1 billion.
In contrast, BlackRock funds observed net inflows amounting to $150.5 million on the same day, with net inflows totaling $40.3 million, even amidst the outflows from ARKB and GBTC.
Despite the recent outflows, ARKB remains the third-largest fund among the newly launched spot ETFs, excluding Grayscale, boasting $2.2 billion in assets under management (AUM). It trails behind BlackRock and Fidelity funds, which manage $14.1 billion and $7.6 billion in AUM, respectively. Additionally, ARKB ranks as the sixth-largest BTC holder among various funds, companies, and miners, holding 44,662 BTC on its books, as reported by HODL15Capital. Although GBTC has experienced a significant reduction in its Bitcoin holdings since its ETF conversion, with a loss of 291,000 Bitcoins, it still maintains the largest total Bitcoin holdings, standing at approximately 329,000 Bitcoins at the time of reporting.
