On April 2, an American investment management firm, ARK 21 Shares Bitcoin ETF (ARKB), witnessed a huge daily outflow of $87 million, outperforming Grayscale’s Bitcoin Trust (GBTC) for the first time since spot Bitcoin ETFs were introduced in the United States. This outflow amounts to approximately 1,300 BTC.
ARKB’s outflows continued, with a $300,000 loss on April 1—its first outflow day. In comparison, GBTC experienced an outflow of $81.9 million, which was less than its recent daily average of $254 million. Grayscale has lost $15.1 billion over the past three months.
Despite these losses, BlackRock’s fund saw a $150.5 million inflow, for a net aggregate inflow of $40.3 million on the day. ARKB is the third largest of recently launched spot ETFs, with $2.2 billion in assets under management (AUM), after only BlackRock and Fidelity.
ARKB now owns 44,662 BTC, making it the sixth largest holder among funds and miners. However, GBTC still leads in overall Bitcoin holdings, with approximately 329,000 BTC.
Bitcoin’s price has fallen by 9% from its high last week, reaching roughly $66,041 amid rising ETF outflows. Furthermore, ProShares introduced the first 2x and -2x leveraged spot Bitcoin ETFs (BITU and SBIT), adding to the surging activity in Bitcoin ETFs, which traded for approximately $111 billion in March alone.
