Posted 11/3/2023, 3:14:49 PM
Canada Leads in Spot Bitcoin ETFs with $2B Assets, U.S. Yet to Approve Any
- Global assets in spot bitcoin ETFs total $4.16 billion, per CoinGecko data
- Canada has 7 spot bitcoin ETFs launched since 2021, holding $2 billion in assets
- Largest spot bitcoin ETF is Canada's Purpose Bitcoin ETF with $819.1 million assets
- U.S. has approved only bitcoin futures ETFs like ProShares Bitcoin Strategy so far
- U.S. SEC considering 10 applications for spot bitcoin ETFs, yet to approve any
- Proponents say futures-based ETFs are costlier way to track bitcoin performance
- Germany's ETC Group Physical Bitcoin was first spot bitcoin ETF launched in June 2020
- Europe has 7 other spot bitcoin ETFs in tax havens like Jersey and Cayman Islands
- Debate ongoing about potential size of U.S. spot bitcoin ETF market if approved