Bitcoin ETFs to push US slice of crypto ETF trading volume to 99.5% — Analyst
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The United States could make up for 99.5% of the global trading volume for crypto-related exchange-traded funds — but only if spot Bitcoin ETFs are approved, according to a Bloomberg ETF analyst.
Currently, North America accounts for 97.7% of all crypto ETF trading volume, Bloomberg senior ETF analyst Eric Balchunas
The VanEck digital transformation ETF was second on the list with a return of 182% so far this year. The DAPP fund also tracks a number of crypto mining and technology firms. These include Coinbase, MicroStrategy, Galaxy Digital, Canaan, and Hive.
Every single one of the Top 15 best performing equity ETFs this year is crypto-related. $WGMI leading way w +227%. Finally attracting flows too, altho pretty modest considering these perf numbers. This is part of our monthly Crypto ETF Report via @JSeyff & @SirYappityyapp pic.twitter.com/iPIHhH82Jr
— Eric Balchunas (@EricBalchunas) August 10, 2023
Other leading crypto-related ETPs included the Global X Blockchain ETF (BKCH), up 168% year to date; Bitwise Crypto Industry Innovators ETF (BITQ), which has also returned 168%; and Invesco’s Alerian Galaxy Crypto Economy ETF (SATO), up 162% so far in 2023.
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