Less than a week after its debut, the Purpose Bitcoin exchange-traded fund continues to attract large inflows of investor capital, offering further reassurance that institutional interest in digital assets is on the rise.
Crypto data provider Glassnode reported Tuesday that the Purpose ETF has reached $564 million in assets under management, an impressive feat considering the fund only launched five days ago. As Cointelegraph reported, the fund generated $80 million in volume during its first hour of trading and reached nearly $100 million on its first day.
Glassnode data reveal that, as of Tuesday, the Purpose ETF had 8,288 BTC, having added 2,251 BTC on Monday.
Just a few days after the world’s first #Bitcoin ETF started trading, its holdings are at 8,288 BTC – 2,251 were added yesterday alone.
The ETF’s AUM has crossed half a billion USD, currently sitting at $564M.
— glassnode (@glassnode) February 23, 2021
This explosive growth aligns with a recent forecast