Cathie Wood’s ARK Bitcoin ETF outperforms GBTC with $87M inflows.
Cathy Wood's ARK 21Shares Bitcoin (BTC) Exchange Traded Fund (ETF) has recorded daily outflows of more than $87 million, marking the first time the fund has seen more daily inflows than the Grayscale Bitcoin Trust (GBTC) since bitcoin's launch. ETFs in the United States.
The outflow from Ark 21Shares fu (ARKB) on April 2 was $87.5 million – approximately 1,300 BTC – according to preliminary data from Farside Investors.
Today was the second consecutive day of outflows for ARKB, which lost $300,000 in assets on its first day out on April 1.
Grayscale — which has posted consistent flows every trading day since converting to a spot ETF — posted yet another daily expense of $81.9 million.
Notably, this was a relatively low outbound day for GBTC, which has shed an average of $254 million per day over the past five trading days. In the last three months, Greyscale has donated a total of around $15.1 billion.
Despite the outflows of the past two days, ARKB is still the third largest of the ten newly opened ETFs – excluding Greyscale – with $2.2 billion in assets under management (AUM).
ARKB trails behind BlackRock's and Fidelity's funds with AUM of $14.1 billion and $7.6 billion, respectively.
According to data from HODL15Capital, ARKB is the sixth largest holder of BTC among funds, corporations and miners, currently holding a total of 44,662 BTC on its books.
Despite shedding a staggering 291,000 bitcoins after converting to ETFs, GBTC still leads the pack in total bitcoins, with 329,000 bitcoins on its books at the time of publication.
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Bitcoin prices have been in decline since the beginning of this month, falling 9% from last week's high of $71,500 and falling below $65,000 on April 3 amid rising ETF flows.
In an April 2nd post for X, Bloomberg ETF analyst Eric Balchunas noted the launch of 2x and -2x leveraged Bitcoin ETFs for the first time. The ProShares-based fund trades under BITU and SBIT.
“These two ETFs seem to be in the top 5 most volatile ETFs in the US (out of 3,400) with a standard deviation of about 150%,” he added.
Balchunas also noted that Bitcoin ETFs traded at around $111 billion in March, nearly triple what they did in February and January combined.
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