Record outflows from BTC ETF from Ark Invest! During the day, USD 87 million was withdrawn from the fund

The BTC ETF from Ark Invest recorded a net outflow of USD 87 million on Tuesday, April 2. This is a record outflow from the ARKB 21Shares fund. Interestingly, this amount exceeded the daily outflows from Grayscale's GBTC fund. All this coincided with the decline in the BTC price.

Is this the end of the BTC ETF craze? Nearly 90 million outflows from BTC ETF from Ark Invest

The ongoing storm on the BTC-ETF market is weakening, as evidenced by the outflows of funds from individual funds approved by the SEC in early January. However, this does not mean that USD million will stop flowing towards BTC ETFs, because on Tuesday, April 2, IBIT from BlackRock alone recorded a net inflow of USD 150.5 million.

This day was also a negative record for the BTC ETF from Ark Invest, which lost a record USD 87 million. Thus, ARKB 21Shares beat Grayscale's GBTC outflows on the day, which amounted to USD 81.9 billion. This situation coincided with a significant decline in the BTC price by over 5%. The popularity of BTC ETFs is constantly at a high level, and more spot ETFs, this time based on ethereum, are beginning to appear on the horizon.

Will halving and FOMO become a driving force for the digital assets market?

The BTC halving is fast approaching and there are only 16 days left. According to the CEO of Morgan Creek Capital Management, Mark Yusko, the halving will bring great interest in bitcoin and trigger FOMO, or the fear of missing out. In an interview with CNBC, Yusko predicts that the BTC price will reach USD 150,000 by the end of the year.

There are also skeptical voices online who claim that the dynamic situation before the halving in this cycle may prevent the history of cyclical growth from repeating itself. Interestingly, exactly the same concerns concerned the impact of BTC ETFs on the cryptocurrency market at the end of 2023. Every investor can see how the approval of funds by the SEC influenced the price of BTC and other cryptocurrencies.