<img width="1260" height="710" src="https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2.jpg" class="attachment-full size-full wp-post-image" alt="Bitcoin ETF Issuer Sells Over 5000 BTC, Bitcoin Price Under Selloff Risk?" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2.jpg 1260w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2-300x169.jpg 300w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2-1224x690.jpg 1224w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2-768x433.jpg 768w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2-678x381.jpg 678w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2-150x85.jpg 150w" sizes="(max-width: 1260px) 100vw, 1260px">
Spot Bitcoin ETF approval in the U.S. has brought a global fundamental shift, despite positive sentiment regarding improved Bitcoin adoption. Canada’s largest Bitcoin ETF issuer in terms of AUM, Purpose Bitcoin ETF, has sold massive BTCs.
<h2 id="purpose-bitcoin-etf-sells-5000-btc">Purpose Bitcoin ETF Sells 5000 BTC</h2>
Bitcoin buying is now more concentrated in the U.S. than in other regions such as Canada, Germany, and Sweden, which witnessed cautious Bitcoin buying.
Canadians continue selling Bitcoin held in Purpose Bitcoin ETF after the launch of <a href="https://coingape.com/spot-bitcoin-etfs-outshine-proshares-bitcoin-futures-emerging-as-close-rivals/" target="_blank" rel="noopener noreferrer nofollow">spot Bitcoin ETFs</a> in the United States. Purpose Bitcoin ETF sold 199 BTCs on Friday and 604 BTC in the last 7 days, according to data by HODL15 Capital.
Purpose Bitcoin ETF has sold over 5000 BTCs since the launch of spot Bitcoin ETFs in the U.S., with Bitcoin holdings dropping from 35.71K BTC to 30.76K BTC. Purpose Investments <a rel="noopener noreferrer nofollow" href="https://www.purposeinvest.com/funds/purpose-bitcoin-etf" target="_blank">reported</a> the AUM as 2.15B CAD (1.59B USD) and 31102.57709 BTC holdings until February 23.
<img decoding="async" class="aligncenter" src="https://pbs.twimg.com/media/GHE1A0fWsAEvnOJ?format=jpg&amp;name=900x900" alt="Image" width="774" height="347">
<h2 id="us-overtakes-canada-in-bitcoin-etf-market-share">US Overtakes Canada in Bitcoin ETF Market Share</h2>
After the spot Bitcoin ETFs approval by the SEC, the U.S. has established itself as the top country with $34.78 billion in combined assets across the 10 spot Bitcoin ETFs. The US now represents 83.3% of the $41.74 billion global spot Bitcoin ETF market, surpassing Canada. The US neighbor Canada had previously led with 46.3% in market share, as per <a rel="noopener noreferrer nofollow" href="https://www.coingecko.com/research/publications/spot-bitcoin-etfs-worldwide" target="_blank">research</a> by CoinGecko.
Traders and analysts are skeptical of further upside momentum in Bitcoin, with <a href="https://coingape.com/ether-eth-to-outperform-bitcoin-btc-in-coming-months-bloomberg/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> and altcoin in focus. The spot Bitcoin ETF inflow of $233 million on Friday.
<a href="https://coingape.com/price/bitcoin" target="_blank" rel="noopener noreferrer nofollow">BTC price</a> currently trades at $51,013, down over 1% this week. The 24-hour low and high are $50,561 and $51,256, respectively. Furthermore, the trading volume has decreased by 20% in the last 24 hours, indicating a decline in interest among traders.
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The post <a href="https://coingape.com/bitcoin-etf-issuer-sells-over-5000-btc-bitcoin-price-under-selloff-risk/" rel="noopener noreferrer nofollow">Bitcoin ETF Issuer Sells Over 5000 BTC, Bitcoin Price Under Selloff Risk?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Bitcoin ETF Issuer Sells Over 5000 BTC, Bitcoin Price Under Selloff Risk?

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