In brief
The Canadian #Bitcoin ETF now holds more than 10,000 BTC.https://t.co/QM1dLdTcWC pic.twitter.com/4x74In2X3l
— glassnode (@glassnode) February 26, 2021
$73,817.00
7.27%$2,614.23
7.04%$186.70
14.07%$580.93
3.62%$0.99901
-0.14%$0.531237
4.65%$0.197982
15.73%$2,614.16
7.13%$0.163405
1.27%$0.35658
7.31%$4.68
1.35%$3,106.48
7.50%$0.00001884
5.05%$73,887.00
7.52%$26.42
12.65%$2,618.13
7.23%$11.76
10.40%$366.56
8.25%$2.29
18.04%$4.07
5.45%$6.16
1.59%$1.001
0.03%$9.12
29.84%$69.77
6.82%$4.11
8.33%$9.31
10.43%$2,751.33
7.16%$0.00000938
13.58%$523.68
20.81%$7.64
6.14%$1.38
14.09%$161.49
1.23%$0.117312
9.34%$0.096314
4.05%$19.09
6.09%$0.999677
-0.14%$19.16
1.24%$0.324422
7.84%$1.66
9.37%$162.33
24.99%$2.37
13.69%$0.9974
-0.07%$38.89
3.71%$0.08479
17.79%$3.59
7.45%$0.520973
7.57%$20.76
22.01%$0.584318
4.68%$1.17
9.12%$4.73
8.69%$4.89
11.66%$1.53
8.54%$0.04937099
11.03%$0.655439
13.45%$5.31
15.75%$0.02141239
8.22%$4.43
8.81%$1.17
2.31%$2,612.01
6.96%$0.384394
8.63%$1.57
20.38%$0.00002211
15.78%$0.149881
9.59%$2,930.64
7.44%$1.016
11.28%$0.372547
11.47%$0.00013842
11.90%$2,738.74
7.11%$1.35
4.50%$0.421966
23.17%$1.19
10.63%$1.90
9.10%$73,726.00
7.18%$8.84
4.83%$9.40
4.48%$1,285.30
13.94%$6.15
7.33%$1.17
20.93%$3.86
16.99%$230.22
14.31%$0.698034
12.17%$0.119768
5.67%$2,685.12
7.23%$73,932.00
7.45%$15.13
10.82%$50.01
7.68%$2.93
9.32%$0.01960114
13.37%$0.089771
14.25%$0.01703493
8.76%$60.85
7.66%$1.29
16.14%$0.32419
7.87%$0.00000085
3.81%$0.00921392
9.23%$0.530842
8.57%$0.998382
-0.21%$0.00000208
12.42%$0.868464
29.71%$0.02030157
10.49%$0.870691
8.42%$74,033.00
7.77%$0.378651
9.57%$4.89
17.21%$2,612.52
7.06%$9.68
4.30%$0.999262
-0.04%$0.00180136
36.32%$0.741108
42.27%$4.77
8.71%$1.01
0.91%$73,523.00
6.76%$196.41
14.28%$34.01
8.14%$0.121645
3.78%$0.073716
19.07%$73,864.00
7.44%$9.81
7.68%$24.77
8.12%$0.445631
6.23%$0.00003416
8.48%$1.029
12.95%$0.14744
11.19%$0.01316819
6.93%$2,663.87
-3.02%$0.641995
6.80%$1.003
3.28%$0.994075
-0.18%$0.00628538
6.67%$2,616.85
7.19%$0.524516
11.21%$1.36
16.95%$2.05
25.67%$40.31
6.98%$2,686.76
7.17%$0.721234
9.24%$0.250615
7.45%$230.56
11.13%$0.218659
7.29%$2.37
3.17%$0.00831342
8.71%$0.01266002
6.74%$0.00818125
9.63%$16.98
11.07%$0.296177
9.64%$0.060503
8.38%$1.074
3.84%$0.998531
-0.21%$2,617.27
7.18%$0.078598
0.80%$2,643.27
-3.75%$2,841.38
7.48%$2.72
13.93%$0.00009061
6.65%$0.993743
-0.14%$0.132976
11.76%$0.429903
9.67%$1.35
5.75%$0.00000023
12.14%$1.74
8.68%$1.44
12.05%$1.92
15.75%$1.031
13.16%$8.11
7.89%$0.065696
9.01%$188.64
13.97%$2,612.38
6.77%$0.00424371
16.21%$73,943.00
7.40%$2,618.08
7.14%$0.00000042
2.62%$0.430398
12.59%$0.208782
7.07%$0.416361
11.29%$0.02775873
4.84%$0.983829
5.72%$0.05488
7.23%$0.114557
7.49%$0.990569
-0.51%$1.062
-0.44%$1.062
-0.48%$95.76
5.54%$22.39
3.22%$2,621.78
7.62%$43.26
9.34%$2,619.57
7.39%$0.129792
6.96%$0.00
11.54%$10.44
12.46%$0.198389
16.32%$3.31
8.09%$0.03888424
7.28%$0.997889
-0.41%$0.338101
10.76%$0.053474
6.57%$7.27
13.28%$0.996789
-0.29%$0.187984
15.79%$3.17
15.03%$2,803.96
7.22%$0.0064541
14.21%$0.614137
9.25%$0.01121962
3.83%$0.680821
8.57%$2,735.58
7.34%$0.06468
3.27%$0.254642
9.45%$0.614846
7.74%$0.762998
0.02%$2,881.16
7.17%$1.47
14.39%$73,564.00
7.20%$2.53
9.19%$0.249019
7.37%$1.29
9.11%$0.00168833
12.77%$0.299729
7.12%$1,488.57
7.76%$0.00369003
4.71%$3.55
4.59%$0.427375
9.36%$0.00090005
28.82%$2.27
15.92%$1.41
11.50%$73,733.00
7.13%$0.38705
1.61%$0.29321
10.37%$2.92
3.45%$73,923.00
7.44%$2,765.38
6.98%$0.514399
19.15%$0.02846817
3.37%$0.00054517
7.70%$3.58
6.41%$22.88
5.51%$0.310445
8.86%$0.01425431
8.53%$0.00078748
14.73%$72,994.00
6.49%$2.76
2.15%$0.313586
9.82%$16.78
8.78%$43.00
19.58%$0.088314
14.48%$0.63942
-1.00%$6,233.80
-0.65%$0.00446413
6.26%$0.465207
19.53%Purpose Investments now holds over 10,000 Bitcoin in just a week after the launch of its Bitcoin exchange-traded fund product, data from on-chain analytics service Glassnode shows. It's touted as the world’s “first” Bitcoin ETF.
One of the benefits for investors to purchase the Purpose Bitcoin ETF is that it holds “spot” (or actual) Bitcoin whenever an investor purchases its shares. This is different from most Bitcoin futures products, which allow investors to bet on rising/falling prices but tend to be settled in fiat money.
Data suggests such demand for spot Bitcoin among investors is high. As per Glassnode, the fund has taken in over 1,000 Bitcoin ($46 million) in the past four days, with over 417 Bitcoin in the past day alone.
The Canadian #Bitcoin ETF now holds more than 10,000 BTC.https://t.co/QM1dLdTcWC pic.twitter.com/4x74In2X3l
— glassnode (@glassnode) February 26, 2021
However, the overall buying activity suggests a downtrend. Over 2,251 Bitcoin flowed into the ETF at the start of the week, followed by 1,031 Bitcoin on Tuesday. Wednesday then saw a relatively low inflow of just 327 Bitcoin, while investors picked up 417 Bitcoin on Thursday.
Purpose’s Bitcoin investors can choose from three ETF tickers: a BTCC.U product for US dollars, a BTCC.B product for Canadian dollars, and the newly added BTCC product—a “hedged” offering that can be bought with Canadian dollars.
BTCC.U trades at $ 9.41, BTCC.B trades at $9.29, and BTCC trades at $10.34 on the Toronto Stock Exchange—meaning that, even as the value of the total Bitcoin held by Purpose is $464 million, the fund’s total net asset value (inclusive of fees) is over $624 million.
The fund’s demand for Bitcoin comes on the back of a stellar opening day on February 18, when it attracted over $80 million in its first hour of trading and a total of $165 million on the first day itself. And investors clearly seem to want even more.