US spot Bitcoin ETFs saw $524 million worth of cumulative net inflows on Tuesday, marking the highest daily amount since Oct. 7, according to data from Farside Investors.
The $524 million inflows mark the highest cumulative inflows since the record crypto market crash on Oct. 10, delivering a significant blow to crypto investor appetite.
The positive daily inflows are a welcome signal for Bitcoin
BTC$104,510
holders, as investments from ETFs and Michael Saylor’s Strategy were the two main vehicles driving demand for Bitcoin’s price this year, according to Ki Young Ju, the founder and CEO of crypto analytics platform CryptoQuant.