ARK 21Shares Bitcoin ETF Logs $88M of Outflows, Overtaking Grayscale for First Time
Tuesday's outflows from the ARKB exchange-traded fund marked the first time a provider lost more than Grayscale’s GBTC.
Updated Apr 3, 2024, 8:16 a.m. Published Apr 3, 2024, 8:14 a.m.
- Bitcoin outflows from the ARK 21Shares ETF surpassed those of Grayscale's Bitcoin Trust for the first time on Tuesday, with ARKB losing $88 million versus GBTC's $81 million.
- The sector's net inflows were $40 million, with BlackRock's IBIT and Fidelity's FBTC leading growth.
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 $81 million. The two products were the only losers among the 11 ETFs.
Bitcoin ETF Flow (US$ million) - 2024-04-02
— Farside Investors (@FarsideUK) April 3, 2024
TOTAL NET FLOW: 40.3
(Provisional data)
IBIT: 150.5
FBTC: 44.8
BITB: 4.3
ARKB: -87.5
BTCO: 0
EZBC: 0
BRRR: 3.7
HODL: 5.6
BTCW: 0
GBTC: -81.9
DEFI: 0.8
For all the data & disclaimers visit:https://t.co/4ISlrCgZdk
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%.
Shaurya Malwa
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA. He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
