Cathie Wood's ARK 21Shares Bitcoin exchange-traded fund (ETF) surpassed $87 million in net outflows on Tuesday, marking the highest outflow since its founding, according to data from Farside Investors.

Grayscale's GBTC recorded an outflow of $81.9 million on the same day.

In April, outflows from the ARK 21Shares Fund (ARKB) reached $87.5 million, equivalent to approximately 1,300 BTC. This marked the second consecutive debut day for ARKB.

Grayscale has experienced consistent outflows since its conversion into a spot Bitcoin ETF. However, the total number is relatively low this time because it averaged $254 million per day over the last five trading days.

Over the past three months, the ETF has experienced a total outflow of approximately $15.1 billion. Despite this, GBTC remains the largest holder of Bitcoin among all funds, companies, and miners, holding approximately 329,000 BTC.

Despite recent consecutive exits, ARKB remains the third-largest of the ten newly launched spot ETFs, excluding Grayscale, with $2.2 billion in assets under management (AUM). Additionally, ARKB currently holds 44,662 BTC, ranking sixth in Bitcoin ownership among funds, companies, and miners.

On the other hand, BlackRock's IBIT saw the highest net inflow of $150.5 million, followed by Fidelity's fund, which added $44.8 million. VanEck and Bitwise's spot Bitcoin ETFs also experienced inflows of three to five million dollars.

In total, the 11 US spot Bitcoin ETFs saw net inflows totaling approximately $39.47 million.

Since the beginning of April, the Bitcoin price has experienced a decline, falling nearly 9% from last week's peak of $71,500. In April, Bitcoin briefly fell below $65,000 amid diminishing outflows from ETFs.