Summary
TLDR: Ark 21 Shares Bitcoin ETF (ARKB) has seen two straight days of outflows, totaling $55.6 million, amid broader Bitcoin ETF market outflows. Grayscale’s GBTC has seen the majority of outflows. Ark Invest has also faced declining market share in the U.S. ETF market but has launched its first European ETFs in response to strong European demand for their investment strategies.
Key Points
1. The Ark 21 Shares Bitcoin ETF (ARKB) has seen two straight days of outflows for the first time since the start of the month, with $12.9 million exiting the fund on April 16th and a further $42.7 million in outflows on the 17th.
2. ARKB currently holds assets worth $2.7 billion, with year-to-date returns of 37.08%, as Bitcoin’s price rose from around $42,000 at the start of the year to its current price of around $63,000.
3. ARKB’s outflows are accelerating alongside those of the broader Bitcoin ETF market, with total net outflows reaching $165 million, including $133.1 million outflows from Grayscale’s GBTC.