99.5% US Share of Crypto ETF Trading Predicted by Analyst Following Bitcoin ETF Approvals


The United States could account for 99.5% of all global trading volume for crypto-related exchange-traded funds (ETF) if spot Bitcoin ETFs are approved, according to a Bloomberg ETF analyst. Eric Balchunas, the senior ETF analyst, disclosed this in a tweet on Aug. 10. North America currently holds 97.7% of all crypto ETF trading volume.

The Securities and Exchange Commission is scheduled to give its decision on Ark Invest’s and 21Share’s joint ARKB fund by Aug. 13. Ark CEO Cathie Wood believes the regulator could be waiting to approve multiple funds at the same time.

Bitwise also filed an updated prospectus to change its BITC fund from a Bitcoin futures ETF to the “Bitwise Bitcoin and Ether Equal Weight Strategy ETF”. Valkyrie made a similar move, changing its BTC Futures ETF (BTF) to include Ethereum Futures.

Eric Balchunas commented on this “Cannonball Run” on Twitter. He also noted that the top 15 exchange-traded funds in terms of performance all have exposure to crypto and blockchain. The Valkyrie Bitcoin Miners ETF was the top performer with a return of 227% since the beginning of the year.

The VanEck digital transformation ETF was second on the list with a return of 182%, followed by the Global X Blockchain ETF (BKCH) with 168%, the Bitwise Crypto Industry Innovators ETF (BITQ) also returning 168%, and Invesco’s Alerian Galaxy Crypto Economy ETF (SATO) with 162%.

It is clear that the crypto-related ETFs are dominating the performance charts this year and could even take over the trading volume if spot Bitcoin ETFs are approved in the US.

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