Over the past two trading days, U.S. Bitcoin ETFs saw a slight net outflow. A total of $45.4 million flowed out of the ten index funds, according to data from Farside Investors.

On Tuesday, investors bought $40.3 million worth of Bitcoin ETF-shares, but this was not enough to offset the net outflow of $85.7 million on Monday. U.S. stock markets are traditionally open on Easter Monday.

Once again, the Grayscale Bitcoin Trust (GBTC) was responsible for the poor overall result. The former pioneer lost US$384.5 million, meaning its market share is now only 40.1 percent, according to Dune.

If Grayscale continues to lose Bitcoin at this rate, GBTC stocks will rise within a few months are completely exhausted.

Yesterday, however, there was a small surprise: for the first time, it was not GBTC that suffered the highest daily net outflows, but the ARK 21Shares Bitcoin ETF with nearly $88 million.

For the first time since the ETFs launched on 11th Jan 2024, GBTC is NOT the product with the largest daily outflow

Today's ARKB outflow of $88m is larger than GBTC at $82m

Congratulations to @BarrySilbert !! https://t.co/8bYEDw3G6K
— BitMEX Research (@BitMEXResearch) April 2, 2024

After Grayscale, BlackRock and Fidelity, Ark Invest's exchange-traded Bitcoin fund still has the fourth-largest BTC holdings. The spot ETF from the U.S. investment firm founded in 2014 by Cathie Wood holds more than 44,400 BTC.

The cryptocurrency itself moved sideways and is trading at $66.445 at the time of writing. This represents a price gain of 0.1 percent over the past 24 hours.

Despite the lackluster overall performance, BlackRock won again. The iShares Bitcoin Trust (IBIT) has already had net inflows this week totaling $316.4 million.

IBIT now has a 30.2 percent market share and owns 251,875 Bitcoin. In total, the ten Bitcoin ETFs collect 4.24 percent of the total amount of BTC in circulation.