Bitcoin ETF Drain: ARK 21Shares Experiences Record Daily Withdrawals
Managed by Cathie Wood, ARK 21Shares’ Bitcoin ETF has seen significant Bitcoin ETF outflows two days running. On April 2nd, the fund had its first significant withdrawal, exceeding that of Grayscale’s Bitcoin Trust for the first time since the launch of spot Bitcoin ETFs in the U.S. Farside Investors’ data reveals that the Bitcoin ETF outflow on this day surpassed $87 million, equivalent to around 1,300 BTC. This came after a $300,000 loss in assets on April 1st, marking the fund’s inaugural day of withdrawals. The two-day Bitcoin ETF outflow of ARK 21Shares marks a crucial shift in investor behavior and can potentially impact the fund’s performance in the future. The reasons behind this outflow could be multi-faceted, potentially indicating a decline in investor confidence or a strategic shift in investment portfolios. As the market navigates this significant event, stakeholders are closely monitoring the situation and its potential ripple effects on the broader cryptocurrency market.
Not financial advice. Always be safe and secure when dealing with cryptocurrency. Never send anyone your private key. Always Do Your Own Research..DYOR..DYOR..DYOR!
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