Purpose Bitcoin ETF holdings soar past 30k, topping $1 billion amid signs of rising institutional interest

exchange68September 12, 2024

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Quick Take

Overcoming previous setbacks, the Purpose Bitcoin ETF’s holdings recently surpassed a significant milestone of 30k Bitcoin, a first since the Luna collapse in June 2022.

Purpose Bitcoin ETF Holdings (Source: Glassnode)

Furthermore, its assets under management (AUM) have exceeded the $1 billion mark, underscoring the ETF’s resilience in its 18-month recovery period.

From late October 2023 onward, the ETF has seen positive inflows, marking the return of institutional interest, a critical driver of the crypto market. The Purpose Bitcoin ETF has witnessed an unbroken streak of inflows for nine consecutive trading days.

The resurgence in institutional interest appears to be fueled by anticipation of spot ETF approval, an event that could potentially transform the digital asset landscape.

Purpose Bitcoin ETF Flows (Source: Glassnode)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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