Bitcoin and Ether ETFs Saw Big Inflows Tuesday as Investors Bought Dip
The spot bitcoin funds drew in nearly $900 million, while the ether ETFs pulled more than $400 million.
Bitcoin BTC$123,477.68 and ether ETH$4,515.86 prices dropped sharply on Tuesday, but that didn’t stop investors from pouring cash into crypto funds.
Spot bitcoin exchange-traded funds (ETFs) took in $876 million, according to data from Farside Investors. Combined with $1.2 billion in inflows on Monday as investors reacted to new record price over the weekend, the BTC funds have drawn in a fresh $2 billion in just the first two days of thew eek.
Ether ETFs, meanwhile, also saw a wave of demand, pulling in $420 million Tuesday, their strongest day of inflows this month. For the first two days of the week, the ETH funds have pulled in more than $600 million.
The wave of cash came as prices fell sharply, with bitcoin dropping 2.7% and ether by 5%.
By Helene Braun|Edited by Stephen Alpher
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