More ‘forced selling’ ahead? Purpose Bitcoin ETF holdings plunge by 51% in biggest outflow ever
Canada’s Purpose ETF (BTCC) witnessed its Bitcoin (BTC) holdings slashed by half in just one day, suggesting an alarmingly waning buying sentiment among the crypto’s most-experienced investors.
The fund’s holdings dropped from $47,818 BTC to 23,307 BTC between June 16 and 17, its lowest level since October 2021. The 51% drop in BTC holding is also the biggest daily outflow ever.