The US Dominates the Spot Bitcoin ETF Market

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According to experts from CoinGecko, the United States dominates the global spot Bitcoin ETF market with a share of 83.3%, surpassing Canada which previously held the top spot with 46.3%.

This shift occurred after the US Securities and Exchange Commission (SEC) approved 11 exchange-traded funds based on the spot price of the first cryptocurrency on January 10.

One of these products was a Grayscale Bitcoin trust, which transformed into an ETF with an approximately $29 billion worth of assets under management (AUM).

Canada, with a 7.4% share, remains an important player in the market and its six publicly traded funds have remained stable despite some small outflows compared to the increasing price of Bitcoin.

In 2021, Canada was the first country to approve spot Bitcoin ETFs. Europe follows behind with a 8.8% share and the largest number of exchange-traded products based on the spot price of Bitcoin.

The continent has 13 such products with a combined AUM of $3.67 billion.