As the investors’ confidence is growing in the assets inflow of Canadian BTC ETFs is at are all-time high whereas the Bitcoin outflow of exchanges is showing a yearly high. The exchange traded fund (ETF) of Bitcoin (BTC) holding in Canada is increasing, as per the recent reports, and Bitcoin spot products are showing the way.
The holding of Canadian BTC ETFs has been increased from 6,594 to 69,052 since Jan reaching an all-time high.
As per the Glassnode report, the largest holdings increase has been noticed by Purpose BTC ETF in that time with a net value increase of 18.7% around 35000 BTC.
The exchange traded fund (ETF) is allowing the investors to assume the prices of assets without holding any by themselves. Presently, the spot BTC ETF, Purpose BTC ETF has assets of around $1.68 billion under its management. The metrics are showing investors are desiring to have the Canadian product, where no spot BTC ETF is presently available in the US.
In its latest report on Week OnChain, Glassnode an analytics company on Blockchain has highlighted that the outflow rate of the cryptocurrency exchange is reaching 96,200 BTC each month which is an all-time high of 2022.
On the comparison of events regarding Bitcoin movements, as per analytics company comments, it is quite amazing to notice a very strong outflow of spot holding exchanges and inflows of both DeFI apps, on-chain collection wallets, and ETF products, despite so many geopolitical and macro-economic barriers in past few months.
Since around mid of March, the collection of Bitcoin has been noticed as strong. And the largest collectors are called whales and shrimps. The investors holding 0 to 100 Bitcoin are called Shrimps and the investors holding 1,000 to 10,000 Bitcoins are called whales.
Luna Foundation Guard (LFG) of Terra is the largest latest buyer, whose mission is to obtain the $3 billion value of Bitcoin.
The shortage of BTC is becoming an issue after 19 million coins mining on Friday, where only 2 million Bitcoins are left for mining, as individuals and corporations across the world increase their investment and adoption.
As per the Glassnode report, the early stage and shortage of Bitcoin once again becoming more visible as collateral.