Key Points:
Read more: President-elect Donald Trump Congratulates Bitcoin Holders On Surpassing $100K
The Trump administration’s vow to make America the crypto sector’s epicentre has brought with it a trading boom, which took over from where US Bitcoin ETFs made their move in early 2024.
According to Bloomberg, the surge has cemented the US as the home of digital-asset liquidity and price-setting, unwinding a shift that saw Asia become a key hub amid the crypto crackdown instigated by the Biden administration.
The US Bitcoin ETFs, for instance, have witnessed their cumulative daily trading volumes surge past $500 billion, with net inflows of close to $36 billion flowing in since their launch. Among the most successful launches so far is BlackRock’s iShares Bitcoin Trust.
Chicago-based CME Group has broken new ground in Bitcoin and Ether futures trading, leaving even powerhouse offshore platforms like Binance well behind in terms of open interest.
The surging demand for Bitcoin and Ether futures at CME is a surefire sign that the US is increasingly dominating the crypto space. With President-elect Donald Trump, there are high expectations that the US crypto ETF landscape will expand beyond the current offerings, which are currently limited to Bitcoin and Ether.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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