- Cathie Wood’s ARK 21Shares Bitcoin ETF saw record daily inflows of $201.8 million on March 27th, nearly 4x its average
- Bitcoin price rebounded back towards $72k, currently trading around $69,464 after briefly hitting $71,670
- Despite BTC’s short-term fluctuations, the overall perspective is long-term as institutional adoption and capital inflows continue setting records
The ARK 21Shares Bitcoin exchange-traded fund (ETF) managed by Cathie Wood saw a massive surge in inflows on Wednesday, reaching over 5 times its average daily amount. This comes as Bitcoin pushes back towards $72,000.
ARK 21Shares Bitcoin ETF Sees Record Inflows
The ARK 21Shares Bitcoin ETF saw $201.8 million in inflows on March 27th, a nearly four-fold increase from its daily average of $43.9 million since launching on January 11th. This also triples the $73.6 million inflows seen the previous day.
Bitcoin Retests $72K
Meanwhile, Bitcoin hit $71,670 before falling below the $69,000 support level and closing the day at $69,698. At the time of writing, Bitcoin is trading around $69,464 as it pushes back towards $72,000.
Investor Perspective on Bitcoin Price
Some crypto commentators argue that investors are too focused on Bitcoin’s short-term fluctuations rather than the overall influx of funds and institutional adoption. While daily candles are analyzed, record capital continues flowing into Bitcoin investment vehicles.
Conclusion
The massive inflows into Wood’s Bitcoin ETF and Bitcoin’s push back above $70k show continued institutional interest in crypto. Rather than short-term price moves, the focus is on the long-term perspective as more funds enter the space.
