Canadians buy the dip as Purpose Bitcoin ETF holdings reach new highs

2022.06.01 23:45

Canadians buy the dip as Purpose Bitcoin ETF holdings reach new highs

Despite May’s price correction, which took Bitcoin (BTC) as low as $23,800, institutional investors seem unwilling to lose confidence in the cryptocurrency.

The Purpose Bitcoin ETF, launched in February 2021, has been seeing a consistent inflow over the last five trading days. The fund’s holdings have increased to 43,701.7 BTC as of Tuesday, according to Glassnode data reported by Jan Wustenfeld. That’s the highest level on record.

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