The spot was approved in the US earlier this year. Bitcoin ETF ‘s had a positive impact on BTC adoption, as expected. However, Purpose Bitcoin ETF, Canada’s largest BTC ETF issuer by AUM, sold a huge amount of assets.
When looked at on a country basis, Bitcoin purchases in the USA have gained quite good momentum. Other regions such as Canada, Germany and Sweden continue to act more cautiously.
Canadians continue to sell Purpose holdings following the launch of ETFs in the United States. According to data from HODL15 Capital, Purpose BTC ETF sold 199 BTC on Friday and 604 BTC in the last 7 days.
Purpose Bitcoin ETF has sold more than 5,000 assets since its launch in the US. BTC holdings in the company decreased from 35,710 to 30,760. Purpose Investments reported AUM of 2.15 billion CAD (1.59 billion USD) and 31102.57709 BTC in assets through February 23.
USA Overtakes Canada in Bitcoin ETF Market Share
Following the approval of spot Bitcoin ETFs by the SEC, the US became the top country with $34.78 billion in combined assets across 10 spot BTC ETFs. The US now represents 83.3% of the $41.74 billion global spot BTC ETF market, surpassing Canada. According to research conducted by CoinGecko, the USA’s neighbor Canada was previously the leader in market share with 46.3%.
As Koinfinans.com reported, traders and analysts are skeptical of further upward momentum in Bitcoin, with Ethereum and the altcoin in focus. There was $233 million inflow into the spot Bitcoin ETF on Friday.
