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News

President-elect Donald Trump Puts US Back on Top In Crypto Market

December 24, 2024 - Around 2 mins mins to read

Key Points:

  • The US has regained its status as the global cryptocurrency hub, driven by President-elect Donald Trump and rising demand for digital-asset funds and derivatives.
  • US Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust, have attracted over $500 billion in trading volume and $36 billion in inflows.
With 2025 in view, the US has once again become the global hotbed for everything from President-elect Donald Trump down to surging demand for digital-asset funds and derivatives.
President-elect Donald Trump Puts US Back on Top In Crypto Market

Read more: President-elect Donald Trump Congratulates Bitcoin Holders On Surpassing $100K 

US Regains Leadership in Global Crypto Market Under President-elect Donald Trump

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.

CME Leads Crypto Futures

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.

Bitcoin ETF

CME

crypto

Donald Trump

iShares Bitcoin Trust

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.