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Bitcoin ETFs could elevate the United States share of the cryptocurrency ETF trading volume to 99.5%-Analyst


Bloomberg’s ETF analyst, Eric Balchunas, has indicated that if spot Bitcoin ETFs are approved, the United States has the potential to contribute to 99.5% of the worldwide trading volume for cryptocurrency-related exchange-traded funds (ETFs).

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North America already represents 97.7% of the total trading volume for crypto ETFs. Balchunas shared this information through a tweet on August 10th.


Balchunas speculated that if spot ETFs are introduced in the United States, the country’s contribution to the global trading volume for crypto-related ETFs could rise to around 99.5%.


Numerous applications for spot Bitcoin ETFs are pending the Securities and Exchange Commission (SEC) approval.

The regulatory body is set to announce its verdict on the ARKB fund, a collaborative effort between Ark Invest and 21Shares, by August 13th.

However, there is widespread anticipation of a potential delay in this decision.

In an interview with Bloomberg on August 7th, Cathie Wood, the CEO of Ark Invest, suggested that the regulatory authority might be considering a simultaneous approval of multiple funds before making a decision.

Bitwise submitted a revised prospectus

Bitwise submitted a revised prospectus on August 10th to transform its BITC fund, previously a Bitcoin futures ETF, into the “Bitwise Bitcoin and Ether Equal Weight Strategy ETF.”

This action reflects a similar change made by Valkyrie on August 5th, wherein its BTC Futures ETF (BTF) was adjusted to encompass Ethereum Futures.

In response to these developments, Eric Balchunas commented on August 11th, drawing a comparison to a “Cannonball Run in effect.”

At the same time, Balchunas pointed out that the leading 15 exchange-traded funds in terms of their performance include exposure to cryptocurrency and blockchain.


The Valkyrie Bitcoin Miners ETF has demonstrated the most impressive performance, achieving a remarkable 227% return since the start of 2023.

This actively managed fund, accessible through Nasdaq, focuses on investments in publicly traded companies within the Bitcoin mining sector.

Notable holdings include Marathon Digital, Riot, and Cipher Mining.

The VanEck digital transformation ETF secured the second spot in terms of performance, delivering a substantial 182% return since the beginning of this year.

The DAPP fund also monitors several cryptocurrency mining and technology companies, including Coinbase, MicroStrategy, Galaxy Digital, Canaan, and Hive.

Additional notable cryptocurrency-related Exchange-Traded Products (ETPs) that demonstrated strong performance include the Global X Blockchain ETF (BKCH), achieving a year-to-date increase of 168%.

Bitwise Crypto Industry Innovators ETF (BITQ) has also yielded a 168% return, and the Invesco Alerian Galaxy Crypto Economy ETF (SATO) is marking a 162% rise thus far in 2023.













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