Record Inflow to Bitcoin ETF Funds and Market Dynamics

On March 27th, ARK 21Shares’ Bitcoin exchange-traded fund (ETF) achieved a record inflow of $201.8 million, increasing its daily average inflows by fivefold. On the same day, despite Bitcoin failing to hit $72,000, the fund’s inflow increased by four times from the daily average of $43.9 million since its launch. Significant Increase in ETF Investments ARK Invest saw an almost threefold increase, with an inflow of $73.6 million compared to the previous day. Other Bitcoin ETFs also reported millions of dollars in inflows. For instance, Valkyrie Bitcoin ETF recorded an inflow of $5.1 million, and Invesco Galaxy Bitcoin ETF saw an inflow of $4.8 million. Bitcoin and ETF Comments Bitcoin closed the day at $69,698, while at the time of writing, it was trading at $69,756. Market analysts expressed concerns that investors were overly focused on short-term price fluctuations of Bitcoin, overlooking actual fund flows. Bitwise’s chief investment officer noted […]

Record Inflow to Bitcoin ETF Funds and Market Dynamics

On March 27th, ARK 21Shares’ Bitcoin exchange-traded fund (ETF) achieved a record inflow of $201.8 million, increasing its daily average inflows by fivefold. On the same day, despite Bitcoin failing to hit $72,000, the fund’s inflow increased by four times from the daily average of $43.9 million since its launch.

Significant Increase in ETF Investments

ARK Invest saw an almost threefold increase, with an inflow of $73.6 million compared to the previous day. Other Bitcoin ETFs also reported millions of dollars in inflows. For instance, Valkyrie Bitcoin ETF recorded an inflow of $5.1 million, and Invesco Galaxy Bitcoin ETF saw an inflow of $4.8 million.

Bitcoin and ETF Comments

Bitcoin closed the day at $69,698, while at the time of writing, it was trading at $69,756. Market analysts expressed concerns that investors were overly focused on short-term price fluctuations of Bitcoin, overlooking actual fund flows.

Bitwise’s chief investment officer noted that professional investors, especially in the UK, are still unable to purchase Bitcoin ETF funds, but predicted that this situation would change within the next two years.

Finally, Bitcoin Munger, a crypto commentator, suggested that a $13 billion influx into Bitcoin ETFs could push the price of Bitcoin to the $50,000 to $70,000 range. It was reported that a total of $13.2 billion in new capital inflows has entered similar investment products since the beginning of the year.

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