The United States commands a dominant 83.3% share of the $41.74 bln global spot bitcoin ETF market. Why did the US end up winning out, and does this mean that other countries lose out? Will market participants be able to draw conclusions and reap further gains from the anticipated approval of spot Ethereum ETFs?
US companies have indeed been at the forefront of the big bull run seen in spot bitcoin ETFs. Most likely, the reason is that American businesses had free funds seeking investment, had leverage with the regulator and also understood the prospects that these products would gain regulatory approval. In Europe, this would be more difficult due to a longer decision-making process.
That said, it may well be that European funds are already jumping on the bandwagon, since the market has moved from frenzied gyrations to making informed decisions, with heightened volatility now in the rearview mirror.
Thus, the greenlighting of spot Ethereum ETFs is unlikely to turn the situation around in favor of Europeans, but it will definitely make them wealthier.