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Home»ADOPTION NEWS»Ark Invest’s Spot Bitcoin ETF Hits $87 Million in Daily Net Outflows
ADOPTION NEWS

Ark Invest’s Spot Bitcoin ETF Hits $87 Million in Daily Net Outflows

By Crypto FlexsApril 3, 20242 Mins Read
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Ark Invest’s Spot Bitcoin ETF Hits  Million in Daily Net Outflows
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Ark Invest 21Shares’ ARKB fund recorded net outflows of $87.5 million on Tuesday, the highest since its debut, according to data from SoSoValue.

This amount exceeds the $81.9 million outflow that occurred from Grayscale’s GBTC on the same day. Just on Monday, there was a net outflow from ARKB. For the first time Since debut. Notably, ARKB has accumulated $2.2 billion in net inflows to date, according to SoSoValue data.

BlackRock’s IBIT recorded the highest net inflows at $150.5 million, followed by Fidelity’s fund, which added $44.8 million. Spot ETFs from VanEck and Bitwise saw inflows of $3 million to $5 million.

In total, there were net inflows of approximately $39.47 million into 11 U.S. spot Bitcoin ETFs. SoSoValue data showed it

Bitcoin price falls

The outflow of spot Bitcoin ETFs coincided with a drop in Bitcoin prices on Tuesday. The world’s largest cryptocurrency was trading at $65,881 at 11:30 PM ET on Tuesday, down 1.4% over the past 24 hours, according to The Block’s. pricing page. Bitcoin has fallen more than 6.6% over the past seven days.

bitcoin halving Justin d’Anethan, Keyrock’s head of business development for APAC, told The Block on Monday that he expects that to happen later this month, following what has historically been a downward trend but a prolonged upward cycle.

Mark Yusko, CEO of Morgan Creek Capital Management, said: previous interview CNBC said the halving would generate a lot of interest in Bitcoin and create FOMO (or fear of missing out) among investors, ultimately driving the cryptocurrency’s value to $150,000 by the end of the year.

Meanwhile, GMCI 30 Indexwhich represents a selection of the top 30 cryptocurrencies, fell 1.2% over the past 24 hours.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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