U.S. spot bitcoin ETFs attracted $458 million in net inflows, suggesting institutional investors stepped in to absorb the market shock that briefly pushed bitcoin down to $63,000 over the weekend.

Bitcoin was trading near $68,000 on Tuesday as U.S.-listed spot ETFs recorded $458 million in fresh inflows, according to data compiled by SoSoValue. The strong demand marked one of the largest single-day inflow totals of the quarter, even as geopolitical tensions tied to the conflict with Iran continued to create uncertainty across global markets.

The steady inflows indicate that institutional investors may be viewing bitcoin’s recent volatility—sparked by war-related headlines—as a contained event rather than a broader systemic risk.

Singapore-based trading firm QCP Capital said in a recent market update that roughly $300 million in long liquidations triggered by the weekend developments were “notable but contained.” The firm added that positioning across the market had already been significantly reduced in the weeks leading up to the event.

Options markets reflected a similar dynamic, QCP said. One-day implied volatility briefly surged to 93% following the headlines before quickly retreating, suggesting traders were hedging short-term event risk rather than anticipating a prolonged escalation.

Meanwhile, U.S. spot bitcoin ETFs brought in around $1.1 billion in inflows across three consecutive sessions last week, according to SoSoValue data previously cited by CoinDesk. BlackRock’s IBIT accounted for roughly half of those inflows.