• Purpose ETF growth slows price premium remains

    Meteoric growth of Purpose Bitcoin ETF slows, but price premium remains

    The first Canadian exchange traded fund’s massive initial inflow subsided at around $500 million, but it still commands a price premium over BTC of nearly 30%

    “The initial surge in interest was evidence of some combination of pent-up demand, investors switching from other means of getting Bitcoin exposure, and the fact that Bitcoin’s price was notching new highs as the Purpose ETF began trading,” said Ben Johnson, Morningstar’s global director of ETF research. “Longer term, I expect volumes will be correlated with Bitcoin’s price.”