Purpose Bitcoin ETF sees over $6M in inflows in past week

The number of bitcoin flowing from/to the Purpose Bitcoin ETF.

Quick Take

• Over 300 BTC have been added to the ETF for over three months, equating to over $6M.
• Back in June 2022, during the Luna collapse, over 24,000 BTC were liquidated from the ETF holdings.
• This drop saw the ETF holdings drop from 48,000 BTC to 24,000 BTC.
• Since June, uncertainty has only escalated, which includes the FTX collapse and the ongoing issues with DCG, which has seen institutional appetite muted.
• However, the price of Bitcoin has retraced the entire FTX collapse price dip, and the DCG/Genesis narrative is slowly ending. This has seen a slight appetite for ETF inflows.