Bitcoin ETF Outflows Surpass $300 Million, Overtaking Grayscale and Setting Record Volumes

Ark Invest's 21shares's spot Bitcoin ETF, ARKB, experienced net daily outflows of $87.5 million on April 2, surpassing Grayscale's GBTC for the first time. Since the SEC approved multiple spot Bitcoin ETFs in January, Grayscale has consistently seen investors withdraw funds due to lower fees charged by other ETFs. With the upcoming halving of Bitcoin's supply, some analysts speculate that ETFs' demand for BTC could lead to a supply crunch and drive up its price, while others argue against the idea of an ETF-led "supercycle."