Cathie Wood’s ARK21 Stock Bitcoin ETF Overtakes Grayscale’s GBTC in Outflows for the First Time | Trending Viral hub

[ad_1]

Join our Telegram channel to stay up to date on breaking news coverage

Cathie Wood’s The ARK 21 Shares Bitcoin ETF saw higher daily outflows than Grayscale’s Bitcoin Trust (GBTC) for the first time since spot Bitcoin ETFs were approved in January.

The ARK21 Shares Bitcoin ETF (ARKB) suffered $87.5 million in outflows on April 2, according to data of Farside investors. GBTC, which has seen large capital outflows since converting to a spot ETF in January, lost $81.9 million on the same day.ARK invests in X: "Why ARK and 21Shares?  ARK has been at the forefront of cryptocurrency research since 2014 and was the first fund manager to gain exposure to bitcoin in 2015. 21Shares

ARK21 shares record Bitcoin ETF outflows for two consecutive days

It was the second consecutive day of capital outflows for ARKB, after hemorrhaging $300,000 on its first day of outflows on April 1.

Despite that, ARKB remains the third-largest spot Bitcoin ETF of the ten recently launched funds, excluding GBTC, with $2.2 billion in assets under management (AUM).

ARKB is also the sixth largest holder of Bitcoin among corporations, funds and miners, with a total of 44,662 BTC on its books, according to data from HODL15Capital.

Leading the way are BlackRock and Fidelity ETFs, with assets under management of $14.1 billion and $7.6 billion, respectively. Another 150.5 million dollars entered BlackRock’s IBIT on April 2, allowing spot Bitcoin ETFs to record an aggregate net inflow of $40.3 million, despite outflows from both ARKB and GBTC.

GBTC maintains number one position

With an average outflow of $254 million per day over the last five trading days, GBTC’s outflows of $81.9 million on April 2 were below average. Overall, the fund has lost approximately $15.1 billion in total in the last three months alone, as investors move into Bitcoin ETFs with lower rates

GBTC remains the largest holder of BTC, with approximately 329.27 thousand Bitcoin in its books. This is after he lost a whopping 291,000 BTC.

Related Posts:

Smog (SMOG) – Meme Coin with Rewards

smog sheet
  • First Airdrop Season Available Now
  • Earn XP to qualify for a share of $1 million
  • Featured on Cointelegraph
  • Staking Rewards: 42% APY
  • 10% discount on free sale – smogtoken.com

smog sheet


Join our Telegram channel to stay up to date on breaking news coverage



[ad_2]

Check Also

The next cryptocurrency will explode on Tuesday, April 16: Fantom, Pepe, MX Token | Trending Viral hub

[ad_1] Join our Telegram channel to stay up to date on breaking news coverage Since …

Best Meme Coins to Buy on Monday, April 16: Fronk, Neko, DeFrogs, Dogeverse | Trending Viral hub

[ad_1] Join our Telegram channel to stay up to date on breaking news coverage Bitcoin …

Bitcoin ETFs Will Be Lucky to Raise $500 Million in Small Hong Kong Market, Bloomberg ETF Analyst Says | Trending Viral hub

[ad_1] Join our Telegram channel to stay up to date on breaking news coverage Place …

Leave a Reply

Your email address will not be published. Required fields are marked *