On Tuesday, Bitcoin outflows from the ARK 21Shares exchange-traded fund (ARKB) exceeded those from Grayscale’s Bitcoin Trust (GBTC) for the first time, according to provisional data from Farside Investors. ARKB witnessed approximately $88 million in outflows, surpassing GBTC’s $81 million. These two products stood as the sole losers among the 11 ETFs.
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/GXNMW5Q5BVA4DEZFNHVSYR4D34.png)
The outflows from ARKB marked the largest since its inception in January, following a loss of $300,000 on Monday, representing its initial outflows ever recorded. Grayscale’s total outflows have now surpassed $15 billion, with continuous outflows observed since March 15.
BlackRock’s IBIT, typically a front-runner, experienced an additional $150 million in inflows, with Fidelity’s FBTC following at $44 million. The sector saw net inflows of $40 million, contrasting with net outflows of $80 million on Monday.
In terms of market performance, Bitcoin prices have remained relatively stable over the past 24 hours, hovering just above $66,000 during European morning hours. However, the CoinDesk 20 index experienced a 0.6% decline.
The dynamics of Bitcoin outflows from ARKB surpassing those from GBTC indicate shifting investor sentiment within the cryptocurrency market, highlighting notable changes in fund flows among major ETF providers.
