Purpose Bitcoin ETF adds 1.1K BTC as data hints investors want to 'buy the dip'
The world's flagship Bitcoin spot ETF is back buying Bitcoin after spending four weeks reducing its holdings. The world’s first Bitcoin (BTC) spot price exchange-traded fund (ETF) is buying BTC again after a month of selling.Data from on-chain monitoring resource Coinglass confirms that on April 27, Canada’s Purpose Bitcoin ETF added 1,132 BTC to its holdings.Data: Buy the dip interest "skyrocketing"Despite fears that Bitcoin is not yet done with its sell-off, an about turn at Purpose hints at increasing institutional demand.Beginning March 28, when BTC/USD traded above $48,000, Purpose....
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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....
The Purpose Bitcoin ETF now has over 21,000 BTC under management as the United States continues regulatory scrutiny. The world’s first regulated Bitcoin (BTC) exchange-traded fund (ETF) actually benefited from the recent price dip, data shows.As on-chain analytics service Glassnode noted on June 24, the Purpose Bitcoin ETF continued to add to its assets under management throughout the second half of May.Purpose ETF crosses 20,000 BTCIn an unusual success story from the past few weeks, Canada’s Purpose did not see a significant reduction in holdings or demand after BTC/USD hit $30,000 and....
With the decline in bitcoin prices have come various implications for different types of investors. Retail investors with direct exposure to the market have taken heavy losses, as have the institutional investors. The most prominent of these have been in the Canadian Bitcoin ETF, Purpose, which had recorded some of the largest losses in the […]
Purpose Bitcoin ETF attracted over 1,000 BTC in inflows on Tuesday, its third-largest daily inflow since launch. Canada-based Purpose Bitcoin ETF attracted over $38 million worth of Bitcoin (BTC) this Tuesday, its third-largest daily inflow to date.According to data provided by Glassnode, investors poured about 1,054 BTC into the fund, marginally lower than the inflows recorded on Dec. 6 last year. However, the capital injection still came out to be almost half the amount that entered the Purpose Bitcoin ETF on its debut on Feb. 22, 2021 — over 2,250 BTC.Purpose Bitcoin ETF flows. Source:....
BTC remains the best bet when it comes to avoiding Canada lawmakers' overreach, proponents argue. Canada's war on Bitcoin (BTC) appears to be backfiring as the country's flagship exchange-traded fund (ETF) adds thousands of BTC.Data from on-chain monitoring resource Coinglass shows that over the two weeks to Feb. 24, the Purpose Bitcoin ETF has increased its holdings from 28,854 BTC to 32,257 BTC — 11.8%.Institutions shrug off Canada's crypto crackdownAfter a two-month lull in which its holdings actually modestly decreased, Purpose is back in fashion among institutional investors.Purpose....