The world’s first Bitcoin ETF in Canada buys an additional $ 211.6 million in BTC

Chinese blockchain journalist and blogger Colin Wu tweeted that Purpose Bitcoin ETF, the first of its kind in the country and globally to be approved by regulators, has added 4,342 bitcoins to its vault, which now holds nearly 29,000 BTC.

The world’s first Bitcoin ETF in Canada brings in $ 211.6 million in BTC

Wu tweeted that the Purpose Bitcoin ETF acquired 4,342 bitcoins in the first two weeks of December and added them to its BTC vault. The total of this cryptocurrency is $ 211,646,014 at the current bitcoin exchange rate.

The fund’s total bitcoin holdings now stand at a whopping 28,974 BTC – $ 1,411,688,612, compared to the 24,632 the fund held prior to December. The Purpose Bitcoin ETF thus bought more BTC while the world’s leading cryptocurrency is trading under $ 50,000 this month.

https://twitter.com/WuBlockchain/status/1470288039062605828?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

Bitcoin falls below $ 50,000 in December

The top cryptocurrency has been falling since mid-November when it began to drop from the $ 63,000 region to below $ 60,000 and then from $ 57,082 to a low of $ 46,581 on December 3.

Since then, the crypto king has only managed to break the $ 50,000 threshold once – on December 7th, but overall it has so far been trading in a price range of $ 49,000 to $ 47,000.

From “extreme fear” to “fear”

As previously reported by U.Today, the Fear and Greed Index for the leading cryptocurrency fell to 16 (from 100) last week on December 6th. This happened for the first time in almost six months and signaled “extreme fear” on the markets.

Analysts believe this sharp drop occurred because Bitcoin failed to hold above the $ 50,000 price line.

In the meantime, however, the value of this indicator has risen to 28, which simply stands for “fear”. Bitcoin is currently trading at $ 48,748, according to CoinMarketCap.