The US has reclaimed its position as the global crypto capital, thanks to an explosion in demand for US-based crypto products like Bitcoin ETFs and derivatives. Donald Trump's promise to turn America into the heart of the global crypto market has driven liquidity and set global pricing benchmarks. The US Securities and Exchange Commission's (SEC) approval of spot Bitcoin ETFs has been a major success, with over $500 billion in cumulative daily trading volume and $36 billion in net inflows. The market has shown confidence in US-regulated platforms, with CME Group leading in Bitcoin futures open interest. The market depth has returned to pre-FTX disaster levels, and American soil now dominates Bitcoin trading, with 53% of trades occurring during US hours. However, 59% of financial advisors are still cautious about crypto investment due to its volatility. Portfolio strategists recommend a small allocation of 2% to 3% to Bitcoin ETFs and regular rebalancing to manage risk.
- Content Editor ( cryptopolitan.com )
- 2024-12-24
America regains momentum as the crypto capital of the world heading into 2025