The Purpose BTC ETF Sees Consistent Inflow and Reaches a New All-Time High

North America's Purpose Bitcoin (BTC) exchange-traded fund (ETF) has seen a steady inflow during the previous five trading days. According to some statistics, the ETF reached a new all-time high as its holdings have increased from 42.48 thousand BTC, recorded on May 17, to 43,70 thousand BTC on May 31.

On top of that, Jan Wüstenfeld, Bitcoin analyst for Quantum Economics, released some interesting insights. For instance, the Canadian-based ETF managed to purchase 1,820 BTC on Friday, 2,060 BTC on Thursday, and 2,780 BTC on Tuesday.

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Interestingly enough, the inflows seem to correspond with the fact that major consumers have started reinvesting in cryptocurrencies.

Earlier this year, the Purpose Bitcoin ETF attracted over 1,000 BTC worth roughly $38 million. This was the fund’s third-biggest inflow ever.

Back in May, JPMorgan, an American multinational investment bank and financial services holding company, backed Bitcoin (BTC) and stated that its fair price is higher by 28%.

Currently, Bitcoin (BTC) price is estimated at $29,939 and down 5.08% over the past 24 hours.

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