On March 28, The ARK 21Shares Bitcoin ETF experienced an unprecedented surge in investments, totaling $243.5 million, which marked a significant increase compared to its usual daily intake, as Bitcoin approached the $72,000 threshold.

Insights from Farside Investors revealed that on March 27, the inflow into the ARK 21Shares Bitcoin ETF surged to four times its average daily amount of $43.9 million since its launch on January 11.

This surge nearly tripled the previous day's inflow of $73.6 million, significantly surpassing the scenario of no inflow observed on March 25.

Meanwhile, Blackrock's Bitcoin ETF (IBIT) attracted an even more impressive inflow, totaling $323.8 million in new investments.

In contrast, other Bitcoin ETFs such as Valkyrie Bitcoin ETF (BRRR) recorded $5.1 million, Invesco Galaxy Bitcoin ETF (BTCO) saw $4.8 million, Franklin Bitcoin ETF (EZBC) attracted $4 million, and VanEck Bitcoin ETF (HODL) observed $1.9 million in new investments.

Both WisdomTree Bitcoin ETF (BTCW) and Fidelity Investments Bitcoin ETF (FBTC) reported more modest inflows of $1.5 million each.

During this period, Bitcoin reached a peak of $71,670 but later dipped below the $69,000 level, ultimately settling at $69,698 by the end of the day. Currently, Bitcoin is priced at $70,783, according to CoinMarketCap.

Cryptocurrency analysts have begun to debate whether the focus on Bitcoin's short-term price movements overshadows a more significant trend.

On March 28, crypto analyst Gumshoe shared with his 28,900 followers that the excessive attention on daily price fluctuations neglects the substantial investments flowing into Bitcoin.

Bitwise's Chief Investment Officer Matt Hougan also noted on X on March 27 that many professional investors are still restricted from purchasing Bitcoin ETFs, particularly in the UK, where the regulatory environment remains cautious towards crypto.

He suggested that the landscape for Bitcoin ETF investments would gradually evolve over the next few years through various individual assessments.

As these significant inflows into Bitcoin ETFs reflect growing institutional interest in cryptocurrency, ARK Invest's CEO, Cathie Wood, has projected that Bitcoin's price could soar as high as $3.8 million, driven by its expanding role in the "financial superhighway."

Wood argues that the SEC's cautious approach to institutional Bitcoin investments could inadvertently boost its price.

The launch of these financial products has led to a surge in demand, breaking previous US ETF investment records and reigniting interest in Bitcoin, which these funds directly acquire and manage.

Industry experts support Wood's view that the upcoming Bitcoin halving event in April will trigger a supply shock, further fueling the ongoing demand-driven price rally.