Research Summary
The report provides a comprehensive analysis of the global landscape of spot Bitcoin ETFs. It highlights the distribution of these ETFs across different countries, their total assets, and the major players in the market. The report also emphasizes the potential impact of the US market if it approves spot Bitcoin ETFs.
Key Takeaways
Global Distribution of Spot Bitcoin ETFs
- Global Presence: Spot Bitcoin ETFs are incorporated in eight countries, including G20 countries and tax havens. Canada leads with seven ETFs and $2.00 billion in total assets, accounting for 48.2% of global spot Bitcoin ETF assets.
- European Market: Germany and Jersey are significant players in the European market, with total assets of $802.52 million and $747.77 million respectively. Europe has ten ETFs primarily trading on its exchanges.
- Other Markets: Brazil, Liechtenstein, Guernsey, Australia, and the Cayman Islands also host spot Bitcoin ETFs, with total assets ranging from $4.93 million to $295.74 million.
Spot Bitcoin ETFs Market Size
- Total Assets: There are currently 20 active spot Bitcoin ETFs worldwide, with a combined $4.16 billion in total assets.
- Market Leaders: The largest spot Bitcoin ETFs are Canada’s Purpose Bitcoin ETF with $819.11 million in total assets and Germany’s ETC Group Physical Bitcoin with $802.52 million in total assets.
Historical Overview of Spot Bitcoin ETFs
- First Launch: The first spot Bitcoin ETF was Germany’s ETC Group Physical Bitcoin, launched in June 2020.
- 2021 – A Prolific Year: 14 spot Bitcoin ETFs were launched in 2021, making it the most popular year for spot Bitcoin ETFs to date.
Potential Impact of the US Market
- US Market: The US does not currently have any spot Bitcoin ETFs. However, if approved, it could add 12 spot Bitcoin ETFs offered by leading financial institutions, significantly impacting the global landscape.
Top Spot Bitcoin ETFs
- Leading ETFs: The Purpose Bitcoin ETF (BTCC) and the ETC Group Physical Bitcoin (BTCE) are the largest spot Bitcoin ETFs, with total assets of $819.11 million and $802.52 million respectively.
- Other Notable ETFs: The CI Galaxy Bitcoin ETF (BTCX), CoinShares Physical Bitcoin (BITC) ETF, and Hashdex Nasdaq Bitcoin ETF (BITH11) also hold significant total assets, ranging from $260.44 million to $569.42 million.
Actionable Insights
- Investigate the Potential: Given the significant presence of spot Bitcoin ETFs in Canada and Europe, these markets could offer potential avenues for exploration and understanding of the ETF landscape.
- Monitor the US Market: The potential introduction of 12 spot Bitcoin ETFs in the US could significantly alter the global landscape. Keeping a close eye on regulatory developments in the US could provide valuable insights.
- Assess Market Leaders: Understanding the strategies and performance of leading spot Bitcoin ETFs, such as the Purpose Bitcoin ETF and the ETC Group Physical Bitcoin, could offer valuable lessons for market participation.
