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Record Setting Investments in Cathie Wood’s Bitcoin ETF

Mar 28, 2024

The ARK 21Shares Bitcoin ETF experienced an exceptional $243.5 million in daily investments on March 28, surpassing previous daily totals by a significant margin. On March 27, the ETF saw a massive influx that was four times higher than its usual daily intake of $43.9 million since its launch. The surge in investments highlighted the growing institutional interest in Bitcoin, with other ETFs also benefitting from significant inflows. Amidst this, Bitcoin's price fluctuations drew attention, but analysts emphasized that the focus on daily price movements needs to shift towards recognizing the substantial investments flowing into Bitcoin ETFs. While the industry awaits the forthcoming Bitcoin halving event in April, the increased demand for these financial products is expected to continue boosting the cryptocurrency's price.

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