About Crypto ETFs to push US slice of crypto ETF trading volume to 99.5% - Analyst.
Bitcoin ETFs to push US slice of crypto ETF trading volume to 99.5% — Analyst

Bloomberg senior ETF analyst Eric Balchunas recently revealed that North America currently accounts for 97.7% of all crypto ETF trading volume. However, he speculated that this could reach up to 99.5% if spot Bitcoin ETFs are approved in the United States.

Currently, there is a long list of spot Bitcoin ETF applications waiting for approval from the Securities and Exchange Commission. Cathie Wood, CEO of Ark Invest, suggested that the regulator might be waiting to approve multiple funds at the same time.

On Aug. 10, Bitwise filed an updated prospectus to change its BITC fund from a Bitcoin futures ETF to the “Bitwise Bitcoin and Ether Equal Weight Strategy ETF”. Similarly, Valkyrie changed its BTC Futures ETF (BTF) to include Ethereum Futures on Aug. 5. Eric Balchunas commented on this development, saying “Cannonball Run in effect”.

It appears that the crypto world is ready to welcome ogn crypto, pendle crypto, op crypto, omg crypto, paypal crypto, nft crypto, osmosis crypto, omi crypto, and other related topics. Web 3.0 apps list is also expected to expand as the crypto industry continues to evolve.

Crypto-related ETFs top performance charts

As per Balchunas, the 15 best-performing exchange-traded funds (ETFs) are those with exposure to crypto and blockchain. The Valkyrie Bitcoin Miners ETF, available through Nasdaq, is the top performer with a return of 227% since the beginning of 2023. WGMI invests in Bitcoin mining firms like Marathon Digital, Riot, and Cipher Mining and its stocks have outperformed Bitcoin this year.

The VanEck digital transformation ETF is second on the list with a return of 182%, tracking crypto mining and technology firms such as Coinbase, MicroStrategy, Galaxy Digital, Canaan, and Hive. The Global X Blockchain ETF (BKCH) has achieved a YTD return of 168%, as well as the Bitwise Crypto Industry Innovators ETF (BITQ) with the same return. Invesco’s Alerian Galaxy Crypto Economy ETF (SATO) has had a 162% return so far in 2023.

Asia Express: China’s risky Bitcoin court decision, is Huobi in trouble or not? OGN Crypto, Pendle Crypto, OP Crypto, OMG Crypto, PayPal Crypto, NFT Crypto, Osmosis Crypto, OMI Crypto, and About Crypto are some of the most popular Web 3.0 apps in the list.

Categorized in:

Tagged in: