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Laxman Pai, Opalesque Asia: With 20 active spot Bitcoin ETFs offered across the world currently, global assets invested in exchange-traded funds (ETFs) tied to the spot price of Bitcoin now total $4.16 billion, said a study.
According to CoinGecko, a cryptocurrency data and analysis company, nearly half of that sum, or $2 billion, is invested in the seven spot bitcoin ETFs that have been launched in Canada since 2021. "This accounts for 48.2% of the $4.16 billion in spot Bitcoin ETF assets globally," the study explained.
Canada also is home to the single largest of the 20 ETFs, the Purpose Bitcoin ETF, which has $819.1 million in assets.
Another leading country is Germany, where only one spot Bitcoin ETF is incorporated with an outsized $802.52 million in total assets.
Spot Bitcoin exchange-traded funds (ETFs) are incorporated in just eight countries worldwide: G20 countries Canada, Germany, Brazil, and Australia, as well as tax havens Jersey, Liechtenstein, Guernsey, and the Cayman Islands. This means that if the US Securities and Exchange Commission (SEC) approves spot Bitcoin ETF applications, the US might become the ninth country where spot Bitcoin ETFs are incorporated.
Canada and Europe are the main markets for spot Bitcoin ETFs, with 7 and 10 ETFs primarily trading on exchanges in the two markets respectively. On the other hand, 9 of Europe's 10 spot Bitcoin ETFs are incorporated in tax havens. The only exception is the Germany-incorpor...................... To view our full article Click here
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