Results for: Outflows

Ark Invest, led by tech investor Cathie Wood, has experienced a dramatic 80% decline in assets under management over the past three years, falling from a peak of $59 billion to just $11.1 billion. This downturn is largely attributed to high interest rates and disillusioned investors withdrawing a substantial $2.24 billion from Wood’s actively managed funds in the third week of April 2024 alone. Ark’s flagship fund, the ARK Innovation ETF (ARKK) has witnessed outflows exceeding $1.3 billion this year, surpassing the $578 million outflow seen in 2023.

A recent report reveals a decline in investor appetite for digital asset investment products. Outflows totaled $206 million for the second consecutive week, coinciding with decreased trading volumes for Exchange Traded Products (ETPs). The negative sentiment is primarily focused on U.S. ETFs, with established funds bearing the brunt of outflows. In contrast, Canada and Switzerland saw inflows. Bitcoin also experienced significant outflows, while short-selling activity remained low. Ethereum had its sixth consecutive week of outflows, but multi-asset products saw inflows. Blockchain equities continue to face outflows due to concerns surrounding the upcoming Bitcoin halving.