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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.

By Shaurya Malwa|Edited by Sheldon Reback
Updated Apr 3, 2024, 8:16 a.m. Published Apr 3, 2024, 8:14 a.m.
(Unsplash)
(Unsplash)
  • 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$89,659.31 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.

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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%.

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