According to CoinGecko's report: The United States has now emerged as the dominant market for Bitcoin spot exchange-traded funds (ETFs), commanding an impressive 83.3% of the global market. It also reveals that out of the $41.14 billion global Bitcoin spot ETF market, the US, with its 10 Bitcoin spot ETFs approved earlier this year, contributes over $34.78 billion.
Earlier, Canada was leading in this domain with a share of 46.3%, but it has now been overtaken by the United States. Despite losing the top spot, Canada remains a significant player in the spot Bitcoin ETF market, holding the second-largest market share at 7.4%.
Canada's six spot Bitcoin ETFs currently have a total asset valuation of $3.09 billion. Notably, these ETFs have shown resilience in maintaining their value, which stood at $2.79 billion as of December 18, 2023, suggesting that there have been no significant net outflows despite the rise in Bitcoin prices.
Meanwhile, Europe continues to be an important spot market for Bitcoin ETFs, with total assets worth $3.67 billion, amounting to 8.8% of the global market share. Europe also leads in terms of the number of spot Bitcoin ETFs, hosting 13 ETFs registered across Jersey, Guernsey, Germany, Switzerland, and Liechtenstein.
