ARK 21Shares Bitcoin Spot ETF (ARKB) experienced higher Bitcoin (BTC) outflows than Grayscale's Bitcoin Trust (GBTC) for the first time.

ARK 21Shares exchange-traded fund (ARKB) experienced higher Bitcoin (BTC) outflows than Grayscale's Bitcoin Trust (GBTC) for the first time. 

https://twitter.com/FarsideUK/status/1775369742724780324

According to data from Farside Investors, ARKB recorded outflows of nearly $88 million on Tuesday, surpassing GBTC's outflows of $81 million. These two products were the sole losers among the 11 ETFs analyzed.

The outflows from ARKB mark its largest since its launch in January. The fund suffered a loss of $300,000 on Monday, marking its first-ever outflows. 

See Also: Court Freezes $8.4M of Craig Wright’s Assets Amid Evading Court Expenses Allegations

In contrast, Grayscale's Bitcoin Trust has been facing continuous outflows since March 15, with the total outflows now exceeding $15 billion, as per the data.

Among other ETFs, BlackRock's IBIT emerged as the leader, attracting an additional $150 million. Fidelity's FBTC followed with $44 million in inflows. 

Overall, the net inflows for the day reached $40 million, a significant improvement compared to the net outflows of $80 million recorded on Monday.

Bitcoin prices have remained relatively stable over the past 24 hours, declining 0.55% over the past 24 hours. 

However, it experienced a sharp decline in the past week, dropping by over 5% and falling back below the $69,000 level.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

#Binance #WRITE2EARN
https://bitcoinworld.co.in/ark-invest-21shares-bitcoin-spot-etf-surpasses-grayscales-gbtc-in-outflows-for-the-first-time/