Purpose Bitcoin ETF Adds 1054 Bitcoins

According to data from Glassnode, holdings of the Purpose Bitcoin ETF surged yesterday. The Canada-based ETF added 1,054 bitcoins (more than $38 million worth of bitcoins). The daily gain was just over two other days, the day the ETF was launched, adding 2,250 BTC and Dec. 6. The huge one-day move shows that investors are buying the dips. Adding more bitcoin to ETF holdings indicates that ETF shares are overbought by investors and need to balance their assets by buying more spot bitcoin. (coingape)

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