Canadians buy the dip as Purpose Bitcoin ETF holdings reach new highs
The Bitcoin spot ETF added to its holdings over the past five days, offering a positive sign that buyers were stepping in to take advantage of lower prices. Despite May’s price correction, which took Bitcoin (BTC) as low as $23,800, institutional investors seem unwilling to lose confidence in the cryptocurrency.The Purpose Bitcoin ETF, launched in February 2021, has been seeing a consistent inflow over the last five trading days. The fund’s holdings have increased to 43,701.7 BTC as of May 31, according to Glassnode data reported by Jan Wustenfeld. That’s the highest level on record.The....
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The Purpose Bitcoin exchange-traded fund has been reaccumulating BTC since mid-May, a sign that investors are keen to buy the dip. Demand for Bitcoin (BTC) among Canadian investors has not wavered amid the latest price correction, offering further evidence that market participants are capitalizing on heavily discounted prices. The Purpose Bitcoin ETF, which launched in February, has now accumulated 19,692.149 BTC as of June 13, according to Bybt data. The ETF has added 284.51 BTC over the past seven days and nearly 2,000 BTC since May 15. A massive breakdown in price has not deterred....
Despite the price of Bitcoin falling, demand for Bitcoin ETFs remains strong. The Purpose Bitcoin ETF (BTCC), located in Canada, has reached an all-time high in terms of holdings. The Purpose Bitcoin ETF, which was the world’s first spot-settled Bitcoin ETF, presently has 32,329 Bitcoins. Glassnode Says Bitcoin ETF At ATH Purpose Bitcoin ETF’s holdings […]
Outflows of Bitcoin from exchanges have hit a yearly high, but inflows to Canadian Bitcoin ETFs are at also at peak levels as investor confidence in the asset grows. Canadian Bitcoin exchange-traded fund (ETF) holdings have increased to all-time highs according to recent research, and spot-based products are leading the way.Canadian Bitcoin ETFs have increased their holdings by 6,594 Bitcoin (BTC) since January to reach an all-time high of 69,052 total BTC held.The Purpose Bitcoin ETF saw the biggest increase in holdings over that time period with a net growth of 18.7% to 35,000 BTC,....
The shocking Bitcoin withdrawals appeared as BTC's extended its decline below $20,000 over the weekend. Canada's Purpose Bitcoin ETF (BTCC) witnessed its Bitcoin (BTC) holdings slashed by half in just one day, suggesting an alarmingly waning buying sentiment among the crypto's most-experienced investors.Purpose Bitcoin ETF has 51% of AUM slashedThe fund's holdings dropped from $47,818 BTC to 23,307 BTC between June 16 and June 17, its lowest level since October 2021. The 51% drop in BTC holding is also the biggest daily outflow ever.Purpose Bitcoin ETF holdings. Source:....
Bakkt Holdings, a Digital asset platform, announced on Friday that it had completed its business combination with VPC Impact Acquisition Holdings. VPC Impact Acquisition Holdings was a special-purpose acquisition company. The combined company now operates as Bakkt Holdings, Inc. At the extraordinary general meeting held on October 14, 2021, VPC’s shareholders voted to approve the merger. […]