ARK Invest’s Bitcoin ETF Suffers $87M Outflow

ARK Invest’s Bitcoin ETF Suffers $87M Outflow

On April 2, Cathie Wood’s ARK 21 Shares Bitcoin ETF saw a record-high outflow of more than $87 million, surpassing Grayscale’s Bitcoin Trust (GBTC) for the first time since the launch of US spot Bitcoin ETFs.

According to initial data from Fariside Investors, this marks the second consecutive day of outflows for ARKB, which lost $300,000 in assets on April 1.

Grayscale, on the other hand, has consistently been losing assets since becoming a spot ETF, with a daily outflow of $81.9 million on April 2.

Despite this, GBTC’s outflow was relatively low compared to its average of $254 million per day over the past five trading days, resulting in a total loss of $15.1 billion over the past three months.

However, thanks to a $150.5 million inflow, the BlackRock fund saw a modest net inflow of $40.3 million for the day despite the outflows from ARKB and GBTC. Despite the recent outflows, ARKB remains the third-largest newly launched spot ETF, with $2.2 billion in AUM.