According to data shared by Glassnode, Canadian Purpose bitcoin The ETF bought 6,900 BTC yesterday, setting a new record.
The record for one day purchases of the Purpose Bitcoin ETF was 2,900 BTC before that.
From this purchase, it can be deduced that both the interest in BTC on the part of the institutional investor has increased and the bottom levels in BTC are evaluated.
Assets Managed by Purpose Bitcoin ETF Exceed 1.5 Billion Canadian Dollars
With its most recent acquisition, the amount of assets managed by the Purpose BTC ETF product exceeded CAD 1.5 billion ($1.2 billion). At the time of this writing, the company has a total of 41,620 BTC. However, due to the recent market downturn, the daily rate of return for this ETF product has decreased by 30% since the beginning of the year.
Cryptocurrency According to data provided by information platform Coinglass, the ETF purchased a total of 1,132 BTC last month. During the fall last month, the ETF product had to sell some of its BTC holdings.
Purpose BTC ETF Launched in February 2021
Purpose Investments company launched the Purpose BTC ETF in February of 2021, and at the time, this spot ETF was the only one of its kind. Thanks to this ETF, investors can invest in the world’s largest cryptocurrency without directly purchasing BTC or keeping it in their portfolio.
The ETF, which managed to exceed the $ 1 billion threshold in the first month of its launch, is traded on the Toronto Stock Exchange with the symbol BTCC.
The spot BTC ETF product available in Canada and other countries has not yet been approved in the US.
*Not investment advice.