U.S. Captures 83% of Worldwide Bitcoin ETF Market: Report

This article explores the worldwide dynamics of Bitcoin spot ETFs, which provide investors with an easy and regulated access to bitcoin.
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In the ever-evolving landscape of bitcoin investments, the emergence of Spot Bitcoin Exchange-Traded Funds (ETFs) has garnered significant attention. Bitcoin spot ETFs, backed by actual bitcoin holdings, offer investors a regulated and accessible way to gain exposure to the volatile yet lucrative world of bitcoin trading. This article delves into the dynamics of this market, exploring insights from recent report shared by CoinGecko.

Bitcoin Spot ETF Market Overview

The global spot Bitcoin ETF market has witnessed a seismic shift, with the recent approval of bitcoin ETFs in the United States. According to CoinGecko’s recent update, the US now captures a staggering 83% of the spot Bitcoin ETF market, outstripping its closest competitor, Canada.

Grayscale Bitcoin Trust (GBTC) reigns supreme as the largest spot Bitcoin ETF, commanding over half of the global market share. However, its dominance faces challenges amidst ongoing net outflows. Notably, the top 10 spot Bitcoin ETFs collectively hold a whopping 92.7% of the market, with prominent contenders like iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC) making significant strides.

bitcoin spot etfs worldwide

Spot Bitcoin ETFs are incorporated in 11 countries worldwide, including G20 nations like the US, Canada, Germany, Brazil, and Australia. Europe emerges as a key market, boasting the most number of spot Bitcoin ETFs and a substantial asset size.

Here are the active spot Bitcoin ETFs in each country and their total assets in USD on February 15, 2023:

Bitcoin ETFs worldwide and their Assets Under Management (AUM) — Source

Here are the top Bitcoin ETFs globally, ordered by total assets in USD as of February 15, 2023:

RankSpot Bitcoin ETFTotal Assets (USD)
1Grayscale Bitcoin Trust BTC (GBTC)$22,833.25 million
2iShares Bitcoin Trust (IBIT)$5,189.52 million
3Fidelity Wise Origin Bitcoin Fund (FBTC)$3,926.90 million
4Purpose Bitcoin ETF (BTCC)$1,600.00 million
5ETC Group Physical Bitcoin (BTCE)$1,251.19 million
6ARK 21Shares Bitcoin ETF (ARKB)$1,131.99 million
7Bitwise Bitcoin ETF (BITB)$930.98 million
8CoinShares Physical Bitcoin (BITC)$698.75 million
921Shares Bitcoin ETP (ABTC)$604.68 million
10CI Galaxy Bitcoin ETF (BTCX)$504.11 million
11WisdomTree Physical Bitcoin (BTCW)$413.70 million
12VanEck Bitcoin ETN (VBTC)$359.13 million
133iQ The Bitcoin Fund (QBTC)$347.11 million
14Invesco Galaxy Bitcoin Etf (BTCO)$336.24 million
15Fidelity Advantage Bitcoin ETF (FBTC)$264.29 million
163iQ CoinShares Bitcoin ETF (BTCQ)$221.98 million
17VanEck Bitcoin Trust (HODL)$187.55 million
18Invesco Physical Bitcoin (BTIC)$168.00 million
19Evolve Bitcoin ETF (EBIT)$156.65 million
20Valkyrie Bitcoin Fund (BRRR)$136.54 million
21Hashdex Nasdaq Bitcoin ETF (HBTC.BH)$102.90 million
22AMINA Bitcoin ETP (SBTCU)$100.37 million
23Franklin Bitcoin ETF (EZBC)$80.05 million
24QR CME CF Bitcoin Reference Rate FDI (QBTC11)$62.25 million
2521Shares Bitcoin Core ETP (CBTC)$43.25 million
26Global X 21Shares Bitcoin ETF (EBTC)$33.26 million
27WisdomTree Bitcoin Fund (BTCW)$26.41 million
28DDA Funds Physical Bitcoin ETP (XBTI)$12.76 million
29AMINA Bitcoin CHF Hedged ETP (SBTCC)$10.53 million
30Global X Bitcoin ETP (BT0X)$3.57 million
31Jacobi FT Wilshire Bitcoin ETF (BCOIN)$2.06 million
32Valour Bitcoin Carbon Neutral (1VBT)$0.22 million

Launch Trends and Market Expansion

The inception of spot Bitcoin ETFs dates back to 2020, with Germany’s ETC Group Physical Bitcoin leading the charge. Subsequent years witnessed a surge in ETF launches, notably in 2021, signaling increasing investor interest. The highly anticipated US approvals in 2024 ushered in a new wave of ETF offerings, indicating further market expansion.

Despite initial skepticism, spot Bitcoin ETFs have demonstrated resilience, with total assets surpassing $41 billion USD as of February 2024. These ETFs collectively hold around 4% of the maximum bitcoin supply, reflecting growing investor confidence in digital assets.

Outlook and Future Prospects

As regulatory frameworks continue to evolve, the future of spot Bitcoin ETFs remains dynamic. The possibility of new launches in emerging markets like Hong Kong presents promising opportunities for global expansion. However, challenges such as regulatory scrutiny and market volatility underscore the need for cautious optimism.

Spot Bitcoin ETFs have revolutionized the landscape of bitcoin investment, offering investors a regulated and accessible avenue to capitalize on the potential of Bitcoin. With the US emerging as a dominant player and market expansion on the horizon, the journey of spot Bitcoin ETFs is poised for continued growth and evolution.

The rise of spot Bitcoin ETFs exemplifies the intersection of traditional finance and digital innovation, paving the way for a new era of investment opportunities in the realm of Bitcoin.

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