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ARK 21Shares Bitcoin ETF Hits $200M Daily Inflows for First Time
The bitcoin ETF market registered net inflows of $243.4 million as the BTC price teased a return north of $72,000, a week after sinking below $63,000.
Updated Mar 28, 2024, 12:53 p.m. Published Mar 28, 2024, 12:51 p.m.
The ARK 21 Shares Bitcoin ETF (ARKB) registered inflows of more than $200 million for the first time on Wednesday.
The ETF, whose co-sponsor is Cathie Wood's investment firm, ARK Invest, amassed $200.7 million, according to data by BitMEX Research.
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The bitcoin ETF market registered net inflows of $243.4 million as BTC teased a return north of $72,000 a week after sinking below $63,000.
ARKB became the third bitcoin ETF to cross this mark on a single day after BlackRock's IBIT and Fidelity's FBTC.
FBTC in fact saw a record low day of only $1.5 million on Wednesday, while IBIT saw inflows of $323.8 million.
Read More: Bitcoin Halving Could Bolster ETF Tailwinds for the Cryptocurrency: Canaccord
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What to know:
- Bitcoin surged towards $100,000 on Wednesday's U.S. trading session, gaining 3.2% in the past 24 hours.
- The rally coincided with significant spot BTC price premium on Coinbase.
- Fed Chair Jerome Powell called bitcoin a competitor to gold during a panel discussion.
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