- A recent report by CoinGecko has revealed the dominance of the US in the spot Bitcoin ETF market, with a share of 83.3%.
- Canada ranks second with a share of 7.4%.
According to CoinGecko’s report, the spot Bitcoin ETF market is largely controlled by the United States, with 83.3% of the market share. This is significantly higher than any other country in the space. The report goes on to highlight the success of US-based cryptocurrency ETFs, which have a combined asset value of $34.78 billion.
In second place is Canada, with a share of 7.4%. Despite the approval of spot Bitcoin ETFs by the US Securities and Exchange Commission, the outflows from Canadian funds remain minimal. Nevertheless, Canada remains a strong contender in the market.
European countries also play a significant role in the spot Bitcoin ETF market, accounting for 8.8% of the global market. The total value of assets in Europe amounts to $3.67 billion, with the region boasting the highest number of registered spot Bitcoin ETFs.
Globally, there are a total of 33 investment products in the spot Bitcoin ETF market, with assets under management totaling $41.74 billion. This represents approximately 4% of the total supply of Bitcoin, equivalent to 839,323 BTC.
The report also highlights the rapid influx of capital into US spot Bitcoin ETFs, which exceeded $2.2 billion within just four days. This demonstrates the growing interest and confidence in these investment products.
Overall, the United States remains the dominant force in the spot Bitcoin ETF market, followed by Canada and Europe. With the increasing acceptance and adoption of Bitcoin, it will be interesting to see how the market evolves in the coming years.