At press time, the market’s largest crypto seemed to be recovering from its 10.6% weekly drop and was trading around the $30k price level.
In fact, the aggregate volume of large transactions that denotes the interest of institutional investors registered a considerable decline over the past few days.
Notably, the number of active addresses has fallen by 26% to an average of 787k over the past 7 days, following the peak seen between March and April of this year.
The world’s largest BTC fund provider, Grayscale, periodically sells shares in its most popular fund – the Grayscale Bitcoin Trust .
Despite the sluggishness prevalent in the Bitcoin market, the Canadian Purpose Bitcoin ETF has considerably benefited from the dip.
In search of diversity, investors, especially institutional investors, have started looking towards ETFs as a viable investment option.
In light of the increased adoption of ETFs, BTC surely has something positive to cheer about at this time.
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice.