U.S. Spot Bitcoin ETF Approval Opens Crypto Investing to Millions, Following Canada's Lead
• U.S. approved spot Bitcoin ETFs in January 2023, allowing millions of Americans easier access to invest in Bitcoin. Over $7.7 billion has already flowed into these ETFs.
• Canada has had spot Bitcoin ETFs since 2021. These ETFs have seen adoption, with $2.79 billion in assets. Crypto ETFs are also eligible for registered retirement accounts in Canada.
• It's unclear how U.S. spot Bitcoin ETFs will impact the investment industry - some see volatility risk, others see potential to stabilize crypto markets.
• Investor education on the crypto economy and its business models is important for continued success of this market. The number of global crypto users grew 34% in 2023.
• Canada's longer-standing spot Bitcoin ETF market has driven more crypto exposure, awareness, and regulatory clarity. U.S. may follow a similar path.