November 8, 2024

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Bitcoin ETFs to push US slice of crypto ETF trading volume to 99.5% — Analyst

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Bitcoin ETFs to push US slice of crypto ETF trading volume to 99.5% — Analyst

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.

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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