Bitcoin ETF

Bitcoin

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<h2 id="key-points">Key Points</h2>
<ul>
 <li>21Shares’ ARKB fund, managed by Ark Invest, experienced a net outflow of $87.5 million in a single day.</li>
 <li>Despite this, the 11 U.S. spot bitcoin ETFs collectively saw a net inflow of approximately $39.47 million.</li>
</ul>
<p>Ark Invest’s 21Shares ARKB fund registered a significant net outflow of $87.5 million on Tuesday. This is the largest outflow since the fund’s inception, surpassing the $81.9 million outflow recorded by Grayscale’s GBTC on the same day.</p>
<p>Just a day before this, ARKB had its first net outflow since its launch. However, the fund has still managed to accumulate a net inflow of $2.2 billion to date.</p>
<h2 id="other-etfs-and-bitcoin-price">Other ETFs and Bitcoin Price</h2>
<p>Meanwhile, BlackRock’s IBIT recorded the highest net inflow of $150.5 million. Fidelity’s fund also saw an increase with an addition of $44.8 million. VanEck and Bitwise’s spot ETFs experienced inflows between three to five million dollars.</p>
<p>In total, the 11 U.S. spot <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> ETFs had a combined net inflow of around $39.47 million.</p>
<p>This movement of funds coincides with a decrease in Bitcoin’s price. The leading cryptocurrency was trading at $65,881 at 11:30 p.m. EST on Tuesday, marking a 1.4% decrease in the past 24 hours. Over the past seven days, Bitcoin’s price has fallen by over 6.6%.</p>
<h2 id="bitcoin-halving-and-market-predictions">Bitcoin Halving and Market Predictions</h2>
<p>A Bitcoin halving event is expected to occur later this month. Historically, these events have led to bearish market conditions, but they have typically been followed by long-term bullish cycles.</p>
<p>Mark Yusko, CEO of Morgan Creek Capital Management, previously stated in an interview that the halving event would generate significant interest in Bitcoin. He predicted that this could potentially drive the cryptocurrency’s value up to $150,000 by the end of the year.</p>
<p>In the meantime, the GMCI 30 Index, which represents the top 30 cryptocurrencies, fell 1.2% in the last 24 hours.</p>

Ark Invest’s Bitcoin ETF Experiences $87 Million Daily Net Outflow

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