Cathie Wood’s ARK 21 Shares Bitcoin exchange-traded fund (ETF) experienced a significant outflow of over $87 million, surpassing Grayscale’s Bitcoin Trust for the first time since the launch of spot Bitcoin ETFs in the US. The outflow from ARK 21Shares was approximately 1,300 BTC on April 2, according to preliminary data from Farside Investors. This marked the second consecutive day of outflows for ARK 21Shares, which lost $300,000 in assets on April 1. Grayscale, on the other hand, saw another daily outflow of $81.9 million. It is worth noting that this was a relatively low outflow day for Grayscale, which has lost an average of $254 million per day over the past five trading days, resulting in a total loss of around $15.1 billion over the past three months. Despite the recent outflows, ARK 21Shares remains the third-largest newly launched spot ETF, excluding Grayscale, with $2.2 billion in assets under management. BlackRock’s fund saw an inflow of $150.5 million, resulting in a net aggregate inflow of $40.3 million for the day, despite the outflows from ARK 21Shares and Grayscale. In terms of Bitcoin holdings, ARK 21Shares is the sixth-largest holder among funds, corporations, and miners, currently holding a total of 44,662 BTC. On the other hand, Grayscale still leads the pack with around 329,000 BTC. The price of Bitcoin has been declining since the beginning of this month, falling about 9% from last week’s high and briefly dipping below $65,000 on April 3. Bloomberg ETF analyst Eric Balchunas highlighted the launch of the first-ever 2x and -2x leveraged spot Bitcoin ETFs, which are expected to be among the top five most volatile ETFs in the US. Balchunas also noted that Bitcoin ETFs traded around $111 billion in volume in March, nearly triple the amount traded in February and January combined.
Outflow from Cathie Wood's ARK Bitcoin ETF reaches unprecedented $87M, surpassing GBTC figures.