Grayscale Bitcoin Trust (GBTC) recorded lower outflows for the first time since spot Bitcoin ETFs launched on April 2, after ARK 21Shares (ARKB) posted outflows of $87.5 million, according to Coinglass data.
In comparison, GBTC recorded the lowest outflow since March 12 at $82 million. The data for the other ETFs, including IBIT and FBTC, was not yet public at the time of writing.
GBTC outflow
GBTC’s currently low outflows are notable because the fund has consistently experienced high outflows.
Long-term data shows that GBTC has experienced net outflows of $15 billion since trading began in January and is the only Bitcoin ETF with negative net outflows.
The spot Bitcoin market has further seen positive net inflows, with the Newborn Nine collectively recording over $12 billion in net inflows since launch.
The past few days have been particularly significant for inflows, as spot Bitcoin ETFs saw inflows of more than $800 million in the last week of March.
Bloomberg ETF analyst Eric Balchunas reported that Bitcoin ETF trading volumes hit spot levels $111 billion in March – three times as much as in January and February.
Interested in Bitcoin
BlackRock and Fidelity’s Bitcoin ETFs, IBIT and FBTC, have soared in popularity, attracting significant market interest within the first three months of their launch.
The two ETFs have outpaced hundreds of other funds from the two giants, with IBIT and FBTC attracting unprecedented levels of investment.
IBIT alone accounted for more than half of BlackRock’s annual net inflows, while FBTC accounted for 70% of Fidelity’s, demonstrating Bitcoin’s growing appeal among traditional investors. Remarkably, IBIT has grown faster than any other ETF in history.
Remarkably, both ETFs have seen continuous cash inflows for 52 consecutive days, a rare feat in the ETF space and indicative of robust investor confidence. This streak places them prominently among ETFs with significant and sustained investor interest.
Contrary to the belief that ETF investors might withdraw during market downturns, recent data shows continued strategic investments in these Bitcoin ETFs despite price fluctuations, indicating a more sophisticated and resilient investor base. This investment pattern emphasizes the strategic patience and confidence of ETF investors, even during challenging market conditions.
The post Grayscale Falls Behind in ETF Outflows for the First Time Since Launch as ARKB Loses $87.5 Million appeared first on CryptoSlate.