Cathie Wood’s ARK 21 Shares Bitcoin exchange-traded fund (ETF) has recorded daily outflows of over $87 million, marking the first time it witnessed larger daily outflows than Grayscale’s Bitcoin Trust (GBTC).
According to data from Farside Investors , ARK 21Shares Bitcoin ETF (ARKB) saw outflows amounting to $87.5 million on Tuesday, which is approximately equivalent to 1,300 BTC.
This comes as the second consecutive day of outflows for ARKB, as it lost $300,000 on its first-ever day of outflows on Monday.
Meanwhile, Grayscale’s Bitcoin Trust (GBTC) recorded a daily outflow of $81.9 million.
Although this is a relatively low outflow for GBTC, it is worth noting that the trust has experienced consistent outflows every trading day since its conversion to a spot ETF.
Over the past five trading days, GBTC has shed an average of $254 million per day, resulting in a total outflow of around $15.1 billion in the past three months.
Despite the outflows from ARKB and GBTC, BlackRock’s fund saw an inflow of $150.5 million, leading to a net aggregate inflow of $40.3 million for the day.
ARKB currently stands as the third largest among the ten newly launched spot ETFs, excluding Grayscale, with $2.2 billion in assets under management (AUM).
It falls behind BlackRock’s and Fidelity’s funds, which have respective AUMs of $14.1 billion and $7.6 billion.
In terms of Bitcoin holdings, ARKB is the sixth-largest holder among funds, corporations, and miners, currently owning a total of 44,662 BTC.
On the other hand, despite shedding a substantial 291,000 Bitcoin since its conversion to an ETF, GBTC remains the leader in terms of total Bitcoin held, with around 329,000 Bitcoin on its books at the time of publication,
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