For many institutional bitcoin investors, exchange-traded products (ETPs) are the next big thing. In reality, crypto-ETFs have quickly absorbed a large portion of the market. In one example, crypto-backed ETFs in the United States and Australia shattered many records in the first few days of trading.
Surprisingly, the top 20 best-performing ETFs in the European market during October were all cryptocurrency-backed ETFs. Morning Star created a list that included natural gas and Brazilian exchange-traded funds (ETFs).
Surprisingly, tokens from L-1 protocols like Polkadot and Ethereum backed the top eight ETFs. SEBA Polkadot ETC was at the top of the list (SDOT), SEBA Bank issued the bond, which began trading on the SIX Swiss Exchange in July with a 52.8 percent gain.
It was followed by VanEck's Polkadot ETFs and 21Shares' Polkadot ETFs, with DOT capturing the first three slots.
Ethereum ETFs, in particular, behind those sponsored by Polkadot. Bitcoin ETFs, on the other hand, fell farther behind. The top-ranking non-crypto ETF was ranked 34th, much to everyone's surprise, demonstrating a growing market for institutionalized bitcoin investment products.
Several European nations have taken advantage of the market opportunity by investing early in crypto-ETFs. The United States has been sluggish to approve one of its own, Last month, the first few Bitcoin Futures-backed ETFs were launched.
Despite this, many Ethereum supporters in the nation are now campaigning for an ETF backed by the cryptocurrency. Because spot BTC ETFs have yet to be approved in the United States, those backed by Ethereum, and Polkadot ETFs in particular, are still a long way off. In any case, it appears like Europe will take the lead on this issue.
No comments:
Post a Comment
Note: only a member of this blog may post a comment.