Bitcoin ETFs continue to be in high demand despite the occasional drop in Bitcoin price. based in Canada Puporse Bitcoin ETF(BTCC) assets have reached an all-time high. The ETF currently holds approximately 32,329 BTC.
Purpose Bitcoin ETF Assets Up 31% Since November!
glassnodeAccording to data from the Purpose Bitcoin ETF, the assets are currently valued at over $1.3 billion. Market analyst “On-Chain College” points out that the ETF has added around 7,700 BTC since November. This marks a 31% increase over the period.
The Canadian 🇨🇦 #Bitcoin Spot ETF Purpose has increased their holdings by 31%, or ~7,700 $BTCsince the end of November.
The ETF currently holds 32,329 BTC. pic.twitter.com/6URV8KgTcj
— On-Chain College (@OnChainCollege) February 28, 2022
The new milestone reached by the ETF came after its biggest “single entry” in recent times. Earlier this month, the Purpose Bitcoin ETF caught attention, adding 1750 BTC in two days. Over $64 million was spent at the time, which marked some bullishness among investors during a market downturn.
The ETF has also recently Toronto Stock ExchangeNearly a year has passed since its launch in . Purpose Investments, ETF executives commemorating the anniversary, noted that the ETF plays an important role in driving crypto adoption in Canada.
In a press release, Som Seif, founder and CEO of Purpose Investments, stated that the ETF has further expansion plans. The company has announced plans to launch in Australia in 2022 through a partnership with Cosmos Asset Management.
Seif emphasized that by working at the edge of finance and technology, they are determined to drive innovation in this field and lead the next generation of wealth management, wealth management and SME banking.
US Market Still Waiting for Bitcoin Spot ETF!
Countries such as Canada, Switzerland, Germany, and Brazil had welcomed spot payment Bitcoin products. The performance of these instruments in these countries is one of the most important proofs that investors prefer spot payment Bitcoin ETFs.
In contrast, the SEC continues to prevent a sporting stable of Bitcoin ETFs from serving in the United States. The SEC recently called for a clarification on the matter.
Seizing this opportunity, Grayscale launched a campaign to get the public to post their SEC comments. Grayscale plans to convert the Grayscale Bitcoin Fund (GBTC), the world’s largest Bitcoin fund with over $25 billion in AUM, into an ETF. Meanwhile, market players are wondering when a Bitcoin ETF will hit the Canadian stages. This prospect comes after Fidelity was confirmed as Canada’s first Cryptocurrency.