BitMEX: Spot Bitcoin ETFs inflows to dwarf all 150 crypto ETPs
Spot Bitcoin ETFs in the U.S. could eclipse the entire crypto currency exchange-traded product (ETP) market. As BitMEX analysts note, the crypto currency ETP market has 150 products and has a valuation of $50.3 billion as of Dec. 22, 2023. The list includes spot and futures funds that typically track the performance of Bitcoin (BTC) and Ethereum (ETH). The largest ETP on the list is Grayscale’s Bitcoin Trust, which is currently attempting to convert into a spot ETF product. Of the 150 crypto funds, the 20 largest ETFs attracted the most investment, totaling $1.3 billion inflows during 2023. “With the supposedly imminent approval of the Bitcoin spot ETFs by the SEC in the United States, this dataset and Analysis derived from it may be interesting. For example, it could be useful in determining the extent to which the spot Bitcoin ETF cannibalizes existing exchange-traded products or attracts new capital into the crypto currency space.” BitMEX Research The rac...