US Dominates Bitcoin Spot ETF Market with 83% Share
Date: 2024-02-17 Author: Dima Zakharov Categories: BUSINESS
US Leads Bitcoin ETF Market
CoinGecko analysts delved into the realm of spot Bitcoin ETFs, uncovering the dominance of the United States in this sector. According to their report, the US holds a commanding position, with a staggering 83.3% share of the market, surpassing its competitors by a significant margin.
Canada and Europe's Share
While the US leads the way, Canada holds the second position in the market share, albeit with a much smaller 7.4% stake. Despite the approval of spot Bitcoin ETFs by the US Securities and Exchange Commission, the outflow of assets from Canadian funds remains minimal. Canada's spot Bitcoin ETFs boast assets totaling $3.09 billion, distributed among six crypto funds.
In Europe, collectively, the countries account for 8.8% of the global market, amounting to $3.67 billion in assets. Europe stands out for hosting the largest number of spot Bitcoin ETFs, with a total of 13 crypto funds in the region.
Global Assets Under Management
The global assets under management across 33 investment products worldwide stand at $41.74 billion. This collectively represents 839,323 BTC, equivalent to 4% of the total supply of the leading cryptocurrency.
As previously reported, the influx of capital into US spot Bitcoin ETFs exceeded $2.2 billion within four days, showcasing the growing interest and confidence in this investment avenue.
