Bitcoin
Bitcoin (BTC)
$111,471.00 0.10195
Bitcoin price
Ethereum
Ethereum (ETH)
$4,441.73 2.08883
Ethereum price
BNB
BNB (BNB)
$852.81 0.0618
BNB price
Solana
Solana (SOL)
$208.49 -1.1438
Solana price
XRP
XRP (XRP)
$2.84 -0.6547
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000124 -0.18293
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000099 0.40617
Pepe price
Bonk
Bonk (BONK)
$0.0000203 -1.7646
Bonk price
dogwifhat
dogwifhat (WIF)
$0.816855 -0.18024
dogwifhat price
Popcat
Popcat (POPCAT)
$0.253655 -1.5904
Popcat price
Bitcoin
Bitcoin (BTC)
$111,471.00 0.10195
Bitcoin price
Ethereum
Ethereum (ETH)
$4,441.73 2.08883
Ethereum price
BNB
BNB (BNB)
$852.81 0.0618
BNB price
Solana
Solana (SOL)
$208.49 -1.1438
Solana price
XRP
XRP (XRP)
$2.84 -0.6547
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000124 -0.18293
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000099 0.40617
Pepe price
Bonk
Bonk (BONK)
$0.0000203 -1.7646
Bonk price
dogwifhat
dogwifhat (WIF)
$0.816855 -0.18024
dogwifhat price
Popcat
Popcat (POPCAT)
$0.253655 -1.5904
Popcat price
Bitcoin
Bitcoin (BTC)
$111,471.00 0.10195
Bitcoin price
Ethereum
Ethereum (ETH)
$4,441.73 2.08883
Ethereum price
BNB
BNB (BNB)
$852.81 0.0618
BNB price
Solana
Solana (SOL)
$208.49 -1.1438
Solana price
XRP
XRP (XRP)
$2.84 -0.6547
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000124 -0.18293
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000099 0.40617
Pepe price
Bonk
Bonk (BONK)
$0.0000203 -1.7646
Bonk price
dogwifhat
dogwifhat (WIF)
$0.816855 -0.18024
dogwifhat price
Popcat
Popcat (POPCAT)
$0.253655 -1.5904
Popcat price
Bitcoin
Bitcoin (BTC)
$111,471.00 0.10195
Bitcoin price
Ethereum
Ethereum (ETH)
$4,441.73 2.08883
Ethereum price
BNB
BNB (BNB)
$852.81 0.0618
BNB price
Solana
Solana (SOL)
$208.49 -1.1438
Solana price
XRP
XRP (XRP)
$2.84 -0.6547
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000124 -0.18293
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000099 0.40617
Pepe price
Bonk
Bonk (BONK)
$0.0000203 -1.7646
Bonk price
dogwifhat
dogwifhat (WIF)
$0.816855 -0.18024
dogwifhat price
Popcat
Popcat (POPCAT)
$0.253655 -1.5904
Popcat price

Bitcoin, Ethereum price gaps narrow on U.S. crypto exchanges post-spot ETF approvals

Dorian Batycka
Edited by
News
Bitcoin, Ethereum price gaps narrow on U.S. crypto exchanges post-spot ETF approvals

Bid-ask spreads on major U.S. exchanges like Coinbase and Kraken have tightened post-spot ETF approvals, signaling enhanced market liquidity and depth, analysts at Kaiko say.

Bid-ask spreads for Bitcoin (BTC), which represent the difference between the highest bid and lowest ask prices, have decreased significantly post-approval, indicating an improvement in market liquidity and deeper trading activity.

In a recent research report, analysts at Kaiko revealed that U.S.-based crypto exchange Kraken experienced the highest volatility in spreads during January, reaching a peak of 10 basis points on Jan. 20. Similarly, spreads on Bitstamp and Coinbase also peaked between Jan. 8 and Jan 13 at 6.7 and 1.7 basis points respectively, before plummeting to below 1 basis point in recent weeks.

Bitcoin, Ethereum price gaps narrow on U.S. crypto exchanges post-spot ETF approvals - 1
Bid-ask Bitcoin spread on crypto exchanges | Source: Kaiko

Kaiko pointed out that the trend extends beyond U.S. markets and Bitcoin, as the average bid-ask spread for the most liquid BTC and Ethereum (ETH) trading pairs has also declined across various crypto exchanges.

“Coinbase and Kraken saw the strongest decline while the drop was less pronounced on Binance and OKX, which already offer very low spreads.”

Kaiko

Analysts say the approval of spot exchange-traded funds (ETFs) will eventually fuel a new wave of competition among exchanges, as Coinbase has already announced fee waivers for large traders, which is expected to further drive down spreads.

As crypto.news earlier reported, the U.S. Securities and Exchange Commission (SEC) has greenlit all spot Bitcoin ETF applications. Nonetheless, Gary Gensler, who has maintained a critical stance on cryptocurrencies since assuming leadership of the U.S. financial regulator, reiterated in a statement that the SEC “did not approve or endorse Bitcoin,” despite approving spot ETFs.