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 international trading volume for crypto-related exchange-traded funds (ETF)– however just if area Bitcoin ETFs are authorized, 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 exposed in an Aug. 10 X (Twitter) post. On Aug. 10 Bitwise submitted an updated prospectus to change its BITC fund from a Bitcoin futures ETF to the “Bitwise Bitcoin and Ether Equal Weight Strategy ETF”. WGMI is an actively handled fund readily available through Nasdaq that invests in public business in the Bitcoin mining industry such as Marathon Digital, Riot, and Cipher Mining.Many of the top-listed mining companies have actually seen their stocks exceed Bitcoin this year which might describe the excellent efficiency of items such as WGMI.Related: ETF expert raises spot Bitcoin ETF approval possibilities in the US to 65%The VanEck digital change ETF was 2nd on the list with a return of 182% so far this year.

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Other leading crypto-related ETPs included the Global X Blockchain ETF (BKCH) with 168% YTD, Bitwise Crypto Industry Innovators ETF (BITQ) likewise returning 168%, and Invescos Alerian Galaxy Crypto Economy ETF (SATO) with 162% so far in 2023. Asia Express: Chinas dangerous Bitcoin court choice, is Huobi in problem or not?

The United States might make up for 99.5% of the global trading volume for crypto-related exchange-traded funds (ETF)– however only if spot Bitcoin ETFs are authorized, 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 revealed in an Aug. 10 X (Twitter) post. On Aug. 10 Bitwise submitted an upgraded prospectus to change its BITC fund from a Bitcoin futures ETF to the “Bitwise Bitcoin and Ether Equal Weight Strategy ETF”. WGMI is an actively handled fund readily available through Nasdaq that invests in public companies in the Bitcoin mining industry such as Marathon Digital, Riot, and Cipher Mining.Many of the top-listed mining companies have seen their stocks outperform Bitcoin this year which might explain the excellent efficiency of items such as WGMI.Related: ETF expert raises area Bitcoin ETF approval opportunities in the United States to 65%The VanEck digital change ETF was second on the list with a return of 182% so far this year.