Mapping the growth of this built for a ‘Purpose’ Bitcoin ETF
Bitcoin, the world’s largest cryptocurrency, has been in the news a lot recently thanks to its price action struggles. Despite these concerns, however, the demand for Bitcoin ETFs has remained strong. In fact, according to recent statistics, the Purpose Bitcoin ETF hit an all-time high in terms of holdings.
The world’s first spot-settled Bitcoin ETF documented impressive figures, according to Glassnode data. “On-Chain College,” a market analyst, pointed at the flagship ETF’s gain of around 7,700 BTC since November. This represented a 31% increase over the previous year. ‘The ETF currently holds 32,329 BTC,’ the analyst added.
As of 28 February, the graph looked like,
Source: Glassnode
As per the graph, it gained around 1750 BTC in just two days earlier this month. At the time of writing, the ETF BTCC was painting the town green, according to these statistics from Yahoo Finance.
Source:Yahoo Finance
On 20 February, the said Bitcoin ETF attracted over $33 million worth of Bitcoin, its third-largest daily inflow to date. According to data provided by Glassnode, investors poured about 1.2K BTC into the fund, marginally lower than the inflows recorded on 6 December 2021.
<p lang=«en» dir=«ltr» xml:lang=«en»>The Canadian Purpose #Bitcoin spot ETF just saw one of its biggest inflows ever on Friday! Read more on ambcrypto.com
