{"id":28844,"date":"2022-06-01T16:26:46","date_gmt":"2022-06-01T20:26:46","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=28844"},"modified":"2022-06-01T16:26:55","modified_gmt":"2022-06-01T20:26:55","slug":"canadian-purpose-bitcoin-etf-sees-inflow-despite-market-dip","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/canadian-purpose-bitcoin-etf-sees-inflow-despite-market-dip\/","title":{"rendered":"Canadian Purpose Bitcoin ETF sees inflow despite market dip"},"content":{"rendered":"\n
Over the previous five trading days, the Canadian Purpose Bitcoin ETF<\/a>, which was established in February 2021, has seen sustained inflows.<\/h5>\n\n\n\n
\"Canadian
Canadian Purpose Bitcoin ETF sees inflow despite market dip<\/figcaption><\/figure>\n\n\n\n

According to Jan Wustenfeld's Glassnode data\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, the Canadian Purpose Bitcoin ETF assets have climbed to 43,701.7 BTC as of May 31. That's the highest it's ever been.<\/p>\n\n\n\n

\n

The Canadian #Bitcoin<\/use><\/svg><\/span><\/a> Purpose spot ETF has seen persistent inflows over the last 5 trading days. \ud83d\udcc8

Wed: 752 BTC
Thu: 2.06k BTC
Fri: 1.82k BTC
Mon: 6 BTC
Tue: 2.78k BTC

Assets under management new all-time high: 43.70k $BTC<\/use><\/svg><\/span><\/a> \ud83d\ude80

Previous ATH: 42.48k BTC, May 16 pic.twitter.com\/vQHRd1XecC<\/use><\/svg><\/span><\/a><\/p>— Dr. Jan W\u00fcstenfeld (@JanWues) June 1, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

On May 26 and May 31, the Canadian spot Bitcoin ETF purchased 2,006 BTC and 2,780 BTC, respectively. The inflows appear to be in line with a broader short-term trend of institutional investors<\/a> returning to crypto.<\/p>\n\n\n\n

Last week, digital asset investment products received $87 million in cumulative inflows, with Bitcoin products accounting for $69 million of the total, according to Coinshares data.<\/p>\n\n\n\n

This news comes as a welcome reprieve from the $141 million in total outflows from institutional funds in the week of May 24 as a result of last month's market meltdown. Since July 2021, this was the highest outflow.<\/p>\n\n\n\n

Still, the overall assets under management (AUM) indicator, according to the Coinshares<\/a> report, is at its lowest position since mid-2021, as some institutional buyers appear to be waiting for lower prices before reinserting crypto into their funds.<\/p>\n\n\n\n

When it comes to the market's future, analysts are still gloomy in the short term, with estimates for Bitcoin falling as low as $14,000 and the latest price spike being labeled a bull trap.<\/p>\n\n\n\n

Long-term projections, though, remain favorable, with investors continuing to accumulate Bitcoin <\/a>and young generations remaining bullish.<\/p>\n","protected":false},"excerpt":{"rendered":"

Over the previous five trading days, the Canadian Purpose Bitcoin ETF, which was established in February 2021, has seen sustained inflows. According to Jan Wustenfeld’s Glassnode data , the Canadian Purpose Bitcoin ETF assets have climbed to 43,701.7 BTC as of May 31. That’s the highest it’s ever been. On May 26 and May 31, […]<\/p>\n","protected":false},"author":12,"featured_media":28851,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[10375,10376],"class_list":["post-28844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-canadians","tag-purpose-bitcoin-etf"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/image-7.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/28844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=28844"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/28844\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/28851"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=28844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=28844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=28844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}