• The US is lightyears ahead of Europe in terms of crypto adoption due to the many Bitcoin ETF applications that have been filed.
• The market has been range-bound since mid-June, as there is a lot of bullish pressure on BTC’s chart with each new application for an ETF.
• A Bloomberg analyst pointed out that if a spot Bitcoin ETF gets approved, North American crypto ETF volumes could reach 99.5% of the global market.
US Ahead of Europe in Crypto Adoption
A Bloomberg analyst pointed out what puts the US ahead of Europe in terms of adoption: Bitcoin ETF applications. Since mid-June, Bitcoin’s price has remained above $29,000 and resisted at $30,000 as markets wait for SEC spot Bitcoin ETF approvals. If the first approval comes through, it would lead to a big upswing in exchange prices and attract institutional investors seeking blockchain exposure via an ETF product they can understand from a Tradfi partner they can trust.
US Dominates Global Crypto ETF Volumes
Senior Bloomberg analyst Eric Balchunas recently revealed that every one of this year’s top 15 best-performing equity ETFs are cryptocurrency related. Furthermore, he added that if a spot Bitcoin ETF is approved, it will send North American crypto ETF volumes to 99.5% of the global market share.
Waiting on SEC Spot Bitcoin Approvals
Bitcoin’s volatility touched five-year historic lows at the beginning of August and was even less volatile than U.S stocks briefly this month – showing just how much people are waiting on SEC approval for spot bitcoin exchange traded funds (ETFs). With each new application filed for such an ETF comes more bullish pressure on BTC’s chart as investors look forward to getting access to blockchain exposure via an understandable product from trusted partners.
Institutional Investors Ready for Blockchain Exposure
The list of applicants for spot Bitcoin exchange traded funds seeking SEC approval keeps growing longer and longer by the day – no doubt fuelled by institutional investors looking forward to blockchain exposure via easily understood products from reputable partners like Tradfi. When the first approval finally comes through, many are expecting prices to surge dramatically – making now an exciting time indeed!
The US is leading the way when it comes to cryptocurrency adoption thanks to its many applications for spot Bitcoin exchange traded funds (ETFs). If any one or more get approved then North American crypto exchanges will take up 99.5% share in global markets – making them even more attractive options for institutional investors looking forward to getting blockchain exposure via trustworthy partners like Tradfi!