US-Approved Spot Bitcoin ETFs Could Surpass Entire $50 Billion Crypto ETP Market: BitMEX The global market for cryptocurrency exchange-traded products
(ETPs) has reached a significant milestone, currently comprising approximately 150 products with a total value of $50.3 billion in assets under management, as reported by
BitMEX research.
According to the research, the potential approval of spot Bitcoin exchange-traded funds
(ETFs) in the United States may significantly impact the crypto ETF market. This substantial market includes both spot and futures funds, primarily tracking the performance of leading cryptocurrencies such as
Bitcoin and Ethereum.
The dominance of Bitcoin within the crypto ETP space is evident, with the total value of
Bitcoin ETFs alone standing at an impressive $35.4 billion. Notable products contributing to this figure include the Grayscale Bitcoin Trust
(GBTC), with assets totaling $27,077.4 million, and the
Proshares Bitcoin Strat ETF (BITO), with $1,645.3
million in assets. Beyond Bitcoin, the report provides insights into the diverse landscape of cryptocurrency
ETPs. Ethereum, for instance, contributes significantly with a subtotal of $8,824.5 million, prominently featuring the Grayscale Ethereum Trust
(ETHE) with $6,861.8 million in
assets.
