Keep up with the latest happenings as investor interest in the ARK 21Shares Bitcoin ETF Observes Record Inflows continues to rise despite the difficulties with the price of Bitcoin. ARK 21Shares’ spot Bitcoin exchange-traded fund (ETF) experienced a surge in inflows, totaling $201.8 million on March 27. This amount was nearly five times higher than the daily average entry, despite Bitcoin failing to reach $72,000.
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ARK 21Shares Bitcoin ETF observes record inflows
Preliminary data from Farside Investors showed that the daily entry for the ARK 21Shares Bitcoin ETF on March 27 was four times higher than the daily average of $43.9 million since its launch on January 11.
The ARK Invest ETF also saw a significant increase in inflows, totaling $73.6 million the previous day, nearly tripling its average. In contrast, no entries were recorded on March 25.
https://www.theblock.co/data/crypto-markets/bitcoin-etf
Other Bitcoin ETFs and their record inflows
Additionally, other Bitcoin ETFs such as Valkyrie Bitcoin ETF (BRRR), Invesco Galaxy Bitcoin ETF (BTCO), Franklin Bitcoin ETF (EZBC), and VanEck Bitcoin ETF (HODL) recorded inflows of $5.1 million, $4.8 million, $4 million, and $1.9 million, respectively.
https://www.theblock.co/data/crypto-markets/bitcoin-etf
WisdomTree Bitcoin ETF (BTCW) and Fidelity Investments Bitcoin ETF (FBTC) also reported inflows of $1.5 million each. Bitcoin price reached $71,670 before closing the day at $69,698. According to CoinMarketCap data, at the time of writing, Bitcoin was trading at $69,756.
https://coinmarketcap.com/currencies/bitcoin/
Bitcoins Short-term Volatility
Commenting on the ETF inflows, experts in the crypto industry noted that investors are focusing too much on Bitcoins short-term volatility rather than considering the broader picture. Crypto researcher Gumshoe mentioned in a post on March 28 that investors tend to focus on daily price closings rather than the actual fund flow into Bitcoin.
Matt Hougan, Chief Investment Officer at Bitwise, highlighted on March 27 that most professional investors, especially in the United Kingdom where the FCA is still largely against crypto, cannot buy Bitcoin ETF funds. However, he mentioned that this situation is expected to change with over 100 individual case assessments in the next two years.
Bitcoin Munger, a popular crypto commentator, expressed his belief to his 31,800 followers that the next $13 billion entry could add $50,000 to $70,000 or more to the price. Investment products like spot Bitcoin ETF funds have seen a new capital inflow of $13.2 billion since the beginning of the year.
Conclusion
To conclude, Despite Bitcoin’s failure to reach $72,000, ARK 21Shares’ Bitcoin ETF experienced a significant surge in inflows, totaling $201.8 million on March 27, highlighting continued investor interest in cryptocurrency. This, coupled with record inflows across various other Bitcoin ETFs, indicates a growing acceptance and adoption of digital assets among investors, despite short-term price volatility.
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