Canadian Bitcoin ETF expands positions amid market correction

Since May 15, a Canadian exchange-traded fund (ETF) based on Bitcoin from Purpose Investments has bought about 2,000 BTC amid a market correction.

According to Bybt, since the launch of the Purpose Bitcoin ETF in February 2021, the amount of Bitcoin under the fund’s management has reached 19,692 BTC.

According to journalist Colin Wu, in the last seven days the Purpose Bitcoin ETF acquired 284.51 BTC.

According to bybt data, Purpose’s Bitcoin ETF has accumulated 19,692.149 BTC as of June 13 and has increased its holdings by 284.51 BTC in the past 7 days, and has increased its holdings by nearly 2000 BTC since May 15. https://t.co/nNwIH9pVws

— Wu Blockchain (@WuBlockchain) June 14, 2021

Earlier, Santiment analysts found that whales had increased positions in the first cryptocurrency amid the market correction. Among them are ETFs managed by Purpose Investments.

Read ForkLog’s Bitcoin news in our Telegram — crypto news, prices and analysis.