Quick Take

Striking data reveals a noteworthy ascent in the number of Bitcoin held by the Purpose Bitcoin ETF, which has attained a new year-to-date high of 32,433 BTC. Although significant, this figure hasn’t surpassed the all-time high noted by the Purpose ETF in June 2022, which stands at 48,000 Bitcoin. Concurrently, the fund’s Assets Under Management (AUM) have catapulted to an impressive $1.2 billion.

Purpose ETF Holdings: (Source: Glassnode)

This synchronicity in the surge of Bitcoin holdings and AUM potentially indicates a strengthening investor confidence in the ETF. Additionally, the persistent inflows into Purpose over the recent weeks further underscore the growing attraction of this particular ETF among investors.

The potential introduction of Spot ETFs in the U.S. market is generating a wave of optimism, which could be a driving force behind the recent net inflows into the Purpose Bitcoin ETF.

Purpose ETF Flows: (Source: Glassnode)

The post Purpose Bitcoin ETF sees year-to-date high with 32,433 BTC amid rising investor confidence appeared first on CryptoSlate.

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Filed under: Bitcoin - @ November 21, 2023 11:15 am