Purpose Bitcoin ETF sees over $6M in inflows in past week

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Definition

The number of bitcoin flowing from/to the Purpose Bitcoin ETF.

Quick Take

  • Over 300 BTC have been added to the ETF for over three months, equating to over $6M.
  • Back in June 2022, during the Luna collapse, over 24,000 BTC were liquidated from the ETF holdings.
  • This drop saw the ETF holdings drop from 48,000 BTC to 24,000 BTC.
  • Since June, uncertainty has only escalated, which includes the FTX collapse and the ongoing issues with DCG, which has seen institutional appetite muted.
  • However, the price of Bitcoin has retraced the entire FTX collapse price dip, and the DCG/Genesis narrative is slowly ending. This has seen a slight appetite for ETF inflows.
Purpose Bitcoin ETF Flows: (Source: Glassnode)
Purpose Bitcoin ETF Flows: (Source: Glassnode)
Purpose Bitcoin ETF Holdings: (Source: Glassnode)
Purpose Bitcoin ETF Holdings: (Source: Glassnode)

The post Purpose Bitcoin ETF sees over $6M in inflows in past week appeared first on CryptoSlate.

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