The Aim Bitcoin exchange-traded fund has been a rugged success since its debut last week.
Less than a week after its launch, the Purpose Bitcoin exchange-traded fund continues to draw massive inflows of investor capital, giving more confirmation that institutional interest in digital assets is on the rise.
Crypto Data Provider Glassnode announced on Tuesday that the Aim ETF had reached $564 million in assets under management, a remarkable feat given that the Fund had only been launched five days earlier. As Cointelegraph reported, the fund generated $80 million in volume during its first trading hour, hitting almost $100 million on its first day.
Glassnode data shows that as of Tuesday, the Purpose ETF had 8,288 BTCs, adding 2,251 BTCs 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 exponential growth is in line with the recent prediction by Bloomberg analyst Eric Balchunas, who said the ETF is expected to reach $1 billion in assets by the end of the week.
Canada has rapidly emerged as a hotbed for Bitcoin’s ETF activity. In addition to the Aim ETF, the Evolve Funds Company has obtained permission from the Ontario Securities Commission to set up its own Bitcoin Fund. Trading under the “EBIT” and “EBIT.U” ticker symbols, the Evolve Funds ETF will have direct exposure to BTC valued in both Canadian and U.S. dollars.
Inflows to the Reason ETF tend to be unaffected by Bitcoin’s recent price retracement. The flagship cryptocurrency declined sharply at the beginning of the week and dropped briefly below $45,000, according to TradingView results. Peak to trough, the price of Bitcoin dropped more than 20%. It was last seen carrying over $46,700.
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