Purpose Ether ETF is making massive accumulation & it has accumulated over 31k ETH. Amid massive institutional interest, the crypto ETFs in the Canadian market is buzzing with massive investment.
Having launched its Ether ETF just three weeks back on April 19, it has been on a massive ETH accumulation spree. As per popular crypto Twitter handle Bloqport, Purpose has accumulated over 31k ETH coins just in the last 20 days.
If you look at the monthly ETH chart, the ETH price rally has been phenomenal since April 20. As we can see, ETH was trading around $21,000 levels on April 20. Today, ETH touched its new high of $3920, meaning a massive 90% return in just the last 20 days. Purpose Investment Ether ETF and CI Galaxy digital listed and are live on Toronto Stock Exchange over the last 20 days.
Also Read: Canada Approved Three Ethereum ETFs
Looking at responses these Ether derivative products have received, it’s clear that institutional player’s already big time into this game. Massive Ethereum outflow from an exchange in recent times suggests higher institutional accumulation.
