Canada reported top country for spot Bitcoin ETFs

Name: Canada reported top country for spot Bitcoin ETFs
Uploaded: 2023-11-03T14:31:51+00:00
Description: According to a CoinGecko report dated Nov. 3, only 8 countries around the world offer spot Bitcoin ETFs.

By Sarah Jansen

November 3, 2023 at 2:31 pm

Edited by Brian Stone

News

Canada reported top country for spot Bitcoin ETFs

According to a CoinGecko report dated Nov. 3, only 8 countries around the world offer spot Bitcoin ETFs.

Of these countries, Canada is ranked in the top spot for having seven spot Bitcoin ETFs worth a total of $2 billion in total assets.

Canada and Europe lead

Data from the report shows that Canada and Europe are the main markets for spot Bitcoin ETFs, with the seven in Canada and 10 in Europe. Since spot Bitcoin ETF assets amount to $4.16 Billion globally in total assets across 20 available offerings, Canada at $2 billion makes up 48.2% of the total, with its population of 40 million.

1/ This means that #Canada 🇨🇦 accounts for 48.2% of the $4.16B in spot Bitcoin ETF assets globally.

Another leading country is #Germany 🇩🇪, where only one spot Bitcoin ETF is incorporated with an outsized $802.52M in total assets.
— CoinGecko (@coingecko) November 3, 2023

After Canada comes Germany, with one incorporated spot Bitcoin ETF and $802.52 million in total assets, alongside other notable mentions including Brazil with $295.74 million and Liechtenstein at $218.18 million.

Contending with the north

Despite Canada currently holding the top spot, new reports suggest the country could very easily be dethroned by its neighbor to the south.

A Reuters report dated 3 days ago highlights that BlackRock, Fidelity and crypto-focused firms like Grayscale all have their companies in the running for a Spot Bitcoin ETF, with the SEC still considering eight-to-10 filings for new spot Bitcoin products although no timings were made clear.