Canada’s First Bitcoin ETF Purchases an Additional $211.6 Million in Bitcoin

Colin Wu, a Chinese blockchain journalist and blogger, tweeted that Purpose Bitcoin ETF, the first institution of its type to be licenced by authorities in the nation and worldwide, had added 4,342 Bitcoins to its holdings, bringing the total to around 29,000 BTC.

Purpose Bitcoin ETF purchased 4,342 Bitcoins in the first two weeks of December, adding them to its BTC holdings. This totals $211,646,014 in cryptocurrency at the current Bitcoin exchange rate.

The fund’s total holdings of Bitcoin have increased to a stunning 28,974 BTC—$1,411,688,612, up from 24,632 in December. Thus, Purpose Bitcoin ETF increased its holdings in BTC, despite the fact that the world’s leading cryptocurrency is trading below $50,000 this month.

Since mid-November, when it started declining from the $63,000 level, it first fell below $60,000 and then, on Dec. 3, from $57,082 to the $46,581 low.

Since then, the king cryptocurrency has crossed the $50,000 mark just once—on Dec. 7. However, it has remained mostly stable in the $49,000-$47,000 price range.

As previously reported, on Dec. 6, the flagship cryptocurrency’s Fear and Greed Index fell to 16. (out of 100). This occurred for the first time in about half a year, indicating the market is experiencing “severe dread.”

Analysts think that this precipitous decline occurred as a result of Bitcoin’s inability to maintain a price above the $50,000 mark.

However, the index’s value has risen to 28, which stands for “fear.” Bitcoin is now selling at $48,748, according to CoinMarketCap data.

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