The landscape of Bitcoin investment is witnessing a seismic shift. The United States now holds a commanding lead in the Spot Bitcoin ETF (Exchange-Traded Fund) market, according to recent data from CoinGecko. This article explores the current state of the Spot Bitcoin ETF landscape, analyzing data from various sources to provide a comprehensive view of the market.
U.S. Ascends to the Top
In an impressive financial coup, the U.S. has surged past all competitors, now claiming 83.3% of the global Spot Bitcoin ETF market, valued at $34.78 billion. This leap positions the U.S. firmly ahead of Canada, a former leader in this arena.
Canada’s Resilient Market
Though no longer at the forefront, Canada’s Spot Bitcoin ETFs maintain a robust presence. Canada has demonstrated moderate outflows with a combined asset value of $3.09 billion, indicating a stable investment climate despite Bitcoin’s price fluctuations.
Europe’s Stronghold
Europe remains a significant player in the Spot Bitcoin ETF space, with 13 ETFs and a collective asset size of $3.67 billion. This represents 8.8% of the global market share, with countries like Germany and Switzerland among the prominent markets.
Spot Bitcoin ETFs by Numbers
There are 33 Spot Bitcoin ETFs globally, with combined assets totaling $41.74 billion. The Grayscale Bitcoin Trust (GBTC) leads the pack with $22.83 billion in total assets, accounting for over half of the global market share.
The Genesis of Spot Bitcoin ETFs
Spot Bitcoin ETFs first debuted in 2020, with Germany’s ETC Group Physical Bitcoin paving the way. Since then, the number of ETFs has grown substantially, especially in 2021, a banner year with 14 launches. The U.S. saw a surge of new ETFs in 2024, adding to the global total.
ETFs: A Global Snapshot
| Country | No. Spot Bitcoin ETFs | Total Assets (USD) |
|---|---|---|
| United States | 10 | $34,779 million |
| Canada | 6 | $3,094 million |
| Jersey | 5 | $1,284 million |
| Germany | 2 | $1,264 million |
| Switzerland | 2 | $648 million |
| Liechtenstein | 1 | $359 million |
| Guernsey | 3 | $113 million |
| Bermuda | 1 | $103 million |
| Brazil | 1 | $62 million |
| Australia | 1 | $33 million |
| Malaysia | 1 | $1 million |
Global Rankings and Insights
| Rank | Spot Bitcoin ETF | Total Assets (USD) |
|---|---|---|
| 1 | Grayscale Bitcoin Trust BTC (GBTC) | $22,833.25 million |
| 2 | iShares Bitcoin Trust (IBIT) | $5,189.52 million |
| 3 | Fidelity Wise Origin Bitcoin Fund (FBTC) | $3,926.90 million |
| 4 | Purpose Bitcoin ETF (BTCC) | $1,600.00 million |
| 5 | ETC Group Physical Bitcoin (BTCE) | $1,251.19 million |
| 6 | ARK 21Shares Bitcoin ETF (ARKB) | $1,131.99 million |
| 7 | Bitwise Bitcoin ETF (BITB) | $930.98 million |
| 8 | CoinShares Physical Bitcoin (BITC) | $698.75 million |
| 9 | 21Shares Bitcoin ETP (ABTC) | $604.68 million |
| 10 | CI Galaxy Bitcoin ETF (BTCX) | $504.11 million |
| 11 | WisdomTree Physical Bitcoin (BTCW) | $413.70 million |
| 12 | VanEck Bitcoin ETN (VBTC) | $359.13 million |
| 13 | 3iQ The Bitcoin Fund (QBTC) | $347.11 million |
| 14 | Invesco Galaxy Bitcoin Etf (BTCO) | $336.24 million |
| 15 | Fidelity Advantage Bitcoin ETF (FBTC) | $264.29 million |
| 16 | 3iQ CoinShares Bitcoin ETF (BTCQ) | $221.98 million |
| 17 | VanEck Bitcoin Trust (HODL) | $187.55 million |
| 18 | Invesco Physical Bitcoin (BTIC) | $168.00 million |
| 19 | Evolve Bitcoin ETF (EBIT) | $156.65 million |
| 20 | Valkyrie Bitcoin Fund (BRRR) | $136.54 million |
| 21 | Hashdex Nasdaq Bitcoin ETF (HBTC.BH) | $102.90 million |
| 22 | AMINA Bitcoin ETP (SBTCU) | $100.37 million |
| 23 | Franklin Bitcoin ETF (EZBC) | $80.05 million |
| 24 | QR CME CF Bitcoin Reference Rate FDI (QBTC11) | $62.25 million |
| 25 | 21Shares Bitcoin Core ETP (CBTC) | $43.25 million |
| 26 | Global X 21Shares Bitcoin ETF (EBTC) | $33.26 million |
| 27 | WisdomTree Bitcoin Fund (BTCW) | $26.41 million |
| 28 | DDA Funds Physical Bitcoin ETP (XBTI) | $12.76 million |
| 29 | AMINA Bitcoin CHF Hedged ETP (SBTCC) | $10.53 million |
| 30 | Global X Bitcoin ETP (BT0X) | $3.57 million |
| 31 | Jacobi FT Wilshire Bitcoin ETF (BCOIN) | $2.06 million |
| 32 | Halogen Shariah Bitcoin Fund (HALSBTC) | $1.18 million |
| 33 | Valour Bitcoin Carbon Neutral (1VBT) | $0.22 million |
Conclusion
The U.S. has emerged as the titan of the Spot Bitcoin ETF market, with its significant market share overshadowing other countries. As the investment landscape evolves, the U.S. stands at the forefront, shaping the future of Bitcoin ETFs.
