Cathie Wood’s Bitcoin ETF hits daily inflow record as BTC retests $72K

Ciaran Lyons5 hours agoCathie Wood’s Bitcoin ETF hits daily inflow record as BTC retests $72KThe ARK 21Shares Bitcoin ETF saw a massive $201.8 million in inflows, almost a four-fold increase from its daily average of $43.9 million.14873 Total views30 Total sharesListen to article 0:00Markets NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksARK 21Shares’ spot Bitcoin (BTC) exchange-traded fund (ETF) managed to notch a record $201.8 million of inflows on Wednesday, almost quintupling its average daily inflows as Bitcoin just fell short of reaching $72,000.

Preliminary data from Farside Investors revealed that on March 27, the ARK 21Shares Bitcoin ETF"s daily inflow was a four-fold increase from its daily average of $43.9 million since its launch on Jan. 11.

It also nearly tripled the amount from the previous day when ARK Invest saw inflows of $73.6 million, while there were no recorded inflows on March 25.Bitcoin ETF flow table. Source: Farside Investors

Meanwhile, the Valkyrie Bitcoin ETF (BRRR) witnessed $5.1 million in inflows, the Invesco Galaxy Bitcoin ETF (BTCO) saw $4.8 million in inflows, the Franklin Bitcoin ETF (EZBC) had $4 million in inflows and the VanEck Bitcoin ETF (HODL) noted $1.9 million.

Both the WisdomTree Bitcoin ETF (BTCW) and Fidelity Investments Bitcoin ETF (FBTC) reported $1.5 million in inflows — all single-digit inflows. However, BlackRock data has yet to come in at the time of writing.

It comes as Bitcoin hit $71,670 before falling below the $69,000 support level before closing the day at $69,698. At the time of publication, Bitcoin’s current price is $69,464, as per CoinMarketCap data.

Crypto commentators, meanwhile, have begun to argue that investors are too fixated on Bitcoin’s short-term price fluctuations rather than considering the broader perspective.

In a March 28 post on X, crypto researcher Gumshoe informed his 28,900 followers that investors are opting for a micro perspective, focusing on daily price closures rather than considering the actual influx of funds into Bitcoin.

“Bitcoin ETFs seeing ATH inflows and people are panicking over the daily close of a candle,” he stated.

Related:Bitcoin ETFs see $15M comeback as BTC price taps best close in 10 days

In a March 27 post on X, chief investment officer of Bitwise Matt Hougan stated that the majority of professional investors are still unable to buy Bitcoin ETFs, especially in the United Kingdom where “the FCA is still broadly aligned against crypto.”

“The truth is, most professional investors still cannot buy bitcoin ETFs. That will change through a series of 100+ individual due diligence processes over the next two years,” he stated.

Popular crypto commentator Bitcoin Munger told his 31,800 followers he believes the next $13 billion of inflows could “add $50K-$70K or more to the price.”

On March 18, Cointelegraph reported that a total of $13.2 billion in new capital has flowed into investment products such as spot Bitcoin ETFs year-to-date.

Magazine:China will intensify Bitcoin bull run, $1M by 2028: Bitcoin Man, X Hall of Flame# Bitcoin# Bitcoin Price# ETF# Asset ManagementAdd reactionAdd reaction