Unexpectedly, Cathie Wood's ARK 21 Shares Bitcoin exchange-traded fund (ETF) saw a large outflow that exceeded that of Grayscale Bitcoin Trust (GBTC).
Although ARKB also saw an outflow of $300,000 on April 1, these numbers did not catch the attention of the crypto community, but on April 2, the outflow increased manifold.
According to Farside Investors, Ark 21Shares (ARKB) saw an outflow of $87.5 million on April 2, which is approximately 1,300 BTC. Meanwhile, GBTC Grayscale recorded an outflow of $81.9 million on the same day.
Notably, the outflow of funds from GBTC is the lowest since February 26, 2024. In total, Grayscale has lost about $15.1 billion over the past three months, Cointelegraph reported.
At the same time, inflows into BlackRock's IBIT totaled $150.5 million, which offset outflows from ARKB and GBTC, resulting in a cumulative net inflow of $40.3 million.
It's worth noting that ARKB is one of the top three largest spot ETFs launched (excluding Grayscale) with $2.2 billion in assets under management (AUM).
Also, according to HODL15Capital, ARKB is the sixth largest BTC holder among funds, corporations, and miners, with a total of 44,662 BTC.
Eric Balchunas, an analyst at Bloomberg, pointed out on his X page that Bitcoin ETF trading volume in March was significantly higher than in February and January combined.
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At the time of writing, BTC is trading at $66,226, showing a decline of 0.77% in the last 24 hours.
See also: Shiba Inu developers take steps to increase interest in token