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Grayscale Bitcoin Trust Sees Lower Outflows Than Arkb For The First Time Since Spot ETF Launch

GBTC records lowest outflows in three weeks, while ARKB loses $87.5 million

Recent data indicates a noteworthy shift in the outflows from Grayscale Bitcoin Trust (GBTC), coinciding with the emergence of spot Bitcoin exchange-traded funds (ETFs) on April 2. As per Coinglass data, ARK 21Shares (ARKB) registered outflows amounting to $87.5 million, while GBTC observed a decline in outflows, marking its lowest figure since March 12, standing at $82 million.

This decline in outflows is particularly remarkable given GBTC's historical pattern of consistently high outflows. Since its debut in January, GBTC has experienced a staggering $15 billion in net outflows, making it the only spot Bitcoin ETF to record negative net flows.

Furthermore, amidst GBTC's persistent outflows, the spot Bitcoin market has displayed resilience, with a surge in net inflows. The collective net inflows for various spot Bitcoin ETFs, dubbed the "Newborn Nine," have exceeded $12 billion since their introduction. Notably, the final week of March witnessed a substantial uptick in inflows, exceeding $800 million, signaling a growing interest among investors in spot Bitcoin ETFs.

BlackRock and Fidelity's Bitcoin ETFs surge in popularity, attracting significant investment

The rise of spot Bitcoin ETFs has reshaped the investment landscape, with offerings from industry giants like BlackRock and Fidelity gaining significant traction within a short span. BlackRock's IBIT and Fidelity's FBTC have eclipsed numerous other funds offered by these firms, attracting unprecedented levels of investment.

IBIT alone has accounted for more than half of BlackRock's yearly net inflows, while FBTC has represented 70% of Fidelity's net inflows, underscoring the increasing appeal of Bitcoin among traditional investors. Notably, IBIT has exhibited unprecedented growth compared to any other ETF in history.

Remarkably, both IBIT and FBTC have maintained a streak of continuous cash inflows for 52 consecutive days, a feat rarely achieved in the ETF realm. This sustained investor interest underscores the confidence and strategic patience of ETF investors, even amidst market volatility.