Cathie Wood's ARK 21Shares Bitcoin (BTC) exchange-traded fund (ETF) experienced a daily outflow of over $87 million on April 2, marking the first time it surpassed Grayscale's Bitcoin Trust (GBTC) in daily outflows since the launch of spot Bitcoin ETFs in the US.

The outflow from ARK 21Shares was roughly 1,300 BTC. This is the second consecutive day of outflows for ARK 21Shares, with a loss of $300,000 in assets on April 1. Grayscale also saw a daily outflow of $81.9 million, although relatively low compared to its recent average.

Despite recent outflows, ARK 21Shares remains the third largest of the ten newly launched spot ETFs, excluding Grayscale, with $2.2 billion in assets under management (AUM). It holds the sixth largest amount of BTC among funds, corporations, and miners, currently possessing 44,662 BTC. GBTC, despite losing 291,000 Bitcoin since its ETF conversion, still leads in total Bitcoin held, with around 329,000 Bitcoin.

The price of Bitcoin has declined since the beginning of the month, dropping around 9% from last week's high of $71,500. Additionally, Eric Balchunas, a Bloomberg ETF analyst, noted the launch of the first-ever 2x and -2x leveraged spot Bitcoin ETFs, with ProShares-based funds trading under the tickers BITU and SBIT.

Balchunas also highlighted the significant increase in Bitcoin ETF volume, reaching $111 billion in March, nearly triple the volume of February and January combined.