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Bitcoin BTC$122,637.15 and ether ETH$4,473.77 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%.