Markets

Bitcoin and Ethereum ETFs attract a lot of money, despite falling prices

Bitcoin and Ethereum ETFs attract a lot of money, despite falling prices

The crypto market is in a dramatic condition. Recently, prices have been red almost every day, and yesterday the losses increased particularly strongly. Many people feel the fear of their bodies rushing, but ETF investors do not apparently. Yesterday, you just purchased fair shares in Bitcoin (BTC) and Ethereum (ETH) funds.

ETF investors buy the dip

Both the funds for Bitcoin, which are listed on the American stock exchange, have raised hundreds of millions of dollars of fresh capital. This is shown by Farside Investors’ figures.

The eleven Bitcoin ETFs have realized a combined net inflow of 219,1 million dollars. The nine Ethereum ETFs are still in a nutshell, with an inflow of 443.9 million dollars.

For Bitcoin, it was the first positive trading day since the 14th. August. For six days in a row, capital flowed off, with a total loss of nearly 1.2 billion dollars.

The Ethereum ETFs had already torn around last Thursday. In four red days, more than 925 million dollars disappeared. Now, in three days, almost 1.1 billion dollars have already been added.

ETH falls stronger than BTC

In terms of prices, Bitcoin has actually performed much better. Or rather: less bad.

The Bitcoin price ended yesterday with a loss of 2.95 percent. Bitcoin opened the day at 113,450 dollars, but ended at its lowest level in nearly seven weeks at 110,100 dollars.

Support of 112,000 dollars has been able to save the price for a long time, but now it really seems to be on the way to being 107,000 dollars.

Ethereum was pulled down much more, with a total loss of 8.42 percent. The price fell from 4,778 dollars to 4,376.

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