ARK 21Shares Bitcoin ETF Logs $88M of Outflows, Overtaking Grayscale for First Time
Bitcoin (BTC) outflows from the ARK 21Shares exchange-traded fund (ARKB) on Tuesday surpassed those of Grayscale’s Bitcoin Trust (GBTC) for the first time. Provisional data from Farside Investors shows ARKB…
From the Fly On Wall Street archive. This article dates from Apr 4, 2024 and is preserved as first published.
Bitcoin (BTC) outflows from the ARK 21Shares exchange-traded fund (ARKB) on Tuesday surpassed those of Grayscale’s Bitcoin Trust (GBTC) for the first time.
Provisional data from Farside Investors shows ARKB saw nearly $88 million in outflows on Tuesday, more than GBTC’s $81 million. The two products were the only losers among the 11 ETFs.
Provisional data from Farside Investors shows ARKB saw nearly $88 million in outflows on Tuesday, more than GBTC’s $81 million.
ARKB’s outflows were the biggest since it went live in January. It lost $300,000 on Monday, notching its first ever outflows.
Grayscale’s total outflows now exceed $15 billion, the data shows, and it has seen outflows continuously since March 15.
BlackRock’s IBIT, the usual leader, took on another $150 million, followed by Fidelity’s FBTC at $44 million. Overall net inflows stood at $40 million, up from net outflows of $80 million on Monday.
Bitcoin prices are little changed over the past 24 hours, trading at just over $66,000 as of European morning hours. The broad-based CoinDesk 20 is down 0.6%.
