ARK 21Shares exchange-traded fund (ARKB) experienced higher Bitcoin (BTC) outflows than Grayscale's Bitcoin Trust (GBTC) for the first time.
ARK 21Shares exchange-traded fund (ARKB) experienced higher Bitcoin (BTC) outflows than Grayscale's Bitcoin Trust (GBTC) for the first time. According to data from Farside Investors, ARKB recorded outflows of nearly $88 million on Tuesday, surpassing GBTC's outflows of $81 million. These two products were the sole losers among the 11 ETFs analyzed.
The outflows from ARKB mark its largest since its launch in January. The fund suffered a loss of $300,000 on Monday, marking its first-ever outflows. In contrast, Grayscale's Bitcoin Trust has been facing continuous outflows since March 15, with the total outflows now exceeding $15 billion, as per the data.
Among other ETFs, BlackRock's IBIT emerged as the leader, attracting an additional $150 million. Fidelity's FBTC followed with $44 million in inflows. Overall, the net inflows for the day reached $40 million, a significant improvement compared to the net outflows of $80 million recorded on Monday.
Bitcoin prices have remained relatively stable over the past 24 hours, declining 0.55% over the past 24 hours. However, it experienced a sharp decline in the past week, dropping by over 5% and falling back below the $69,000 level.
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