Bitcoin ETF Outflows Are Ramping Up Again, What Does This Mean For BTC Price?
Bitcoin ETF out flows are on the rise once again after a change in the tide last week. These out flows , given the ETFs’ correlation with the Bitcoin price, have a substantial impact on how well the cryptocurrency performs over time. So, as out flows are ramping up, will it trigger a crash in the BTC price? ARK Invest And Grayscale Lead Outflows While Grayscale’s Spot Bitcoin ETF has been the natural culprit for ETF out flows due to its high fees, another fund has joined the trend in a surprising turn of events. Cathie Wood’s ARK Invest saw a substantial outflow from its ETF, leading to a new record for the investment firm. Related Reading: Solana Whales Are Making Moves – Here’s The Direction They’re Headed In The Ark 21Shares Fund (ARKB) saw a record $87.5 million leave its fund on Tuesday, April 2. Interestingly, the fund’s out flows were even higher than that of Grayscale, which saw around $81.9 million in out flows in the same day. ...