CoinGecko's Compilation: What are the top 12 Bitcoin ETFs globally? Surprisingly, over half of them are physically backed ETFs.

The cryptocurrency data website CoinGecko recently compiled a list of the top 12 Bitcoin spot and futures ETFs globally. It was found that all ETFs on the list, except for those from the United States, are spot ETFs. So, who is the top holder on the list, holding the most ETFs?

Which are the top 12 Bitcoin Spot and Futures ETFs?

According to CoinGecko's rankings, the top spot in the ranking of the top 12 Bitcoin Spot and Futures ETFs based on the amount of Bitcoin held is held by ProShares' Bitcoin Strategy ETF BITO, launched in October 2021.

This ETF is the first Bitcoin "Futures" ETF approved in the United States, currently holding 35,890 Bitcoins. Another ETF, ProShares' Bitcoin Inverse ETF BITI, launched in June last year and holding approximately 2,820 Bitcoins worth of CME contracts, ranks 6th.

Among the top 12 Bitcoin ETFs, there are 5 Futures ETFs and 7 Spot ETFs. All 5 Futures ETFs come from the United States, with 5 issued in the U.S. and Canada, and the remaining 2 from Bermuda and Brazil. These Bitcoin ETFs collectively hold 102,619 Bitcoins, accounting for about 0.5% of all Bitcoins.

Bitcoin ETFs outside the U.S.: All Spot ETFs

From the list, it is evident that all Bitcoin ETFs issued by countries outside the U.S. are Spot ETFs, with 4 of them ranking in the top 5.

The second and third spots are held by Purpose Bitcoin ETF BTCC and 3iQ CoinShares Bitcoin ETF BTCQ, both issued in Canada and traded on the Toronto Stock Exchange, holding 25,284 and 21,237 ETFs respectively. BTCC, launched in February 2021, is the first Spot Bitcoin ETF in North America.

Additionally, the first Spot Bitcoin ETF in Latin America is QR Asset QBTC11, launched on the Brazilian Stock Exchange in June 2021, currently holding 727 Bitcoins, which is comparatively smaller in scale than the aforementioned ETFs.

What benefits will the approval of Bitcoin Spot ETFs bring?

While it remains uncertain when the U.S. will launch its first Bitcoin Spot ETF, the market still holds a certain level of confidence following Grayscale's victory.

CoinGecko believes that if the SEC approves the Bitcoin Spot ETF, it will have the following impacts on the crypto market:

1. Mainstream exposure: The Spot Bitcoin ETF will bring tens of millions of new investors to Bitcoin through retirement and brokerage accounts.
2. Increased legitimacy: SEC approval will increase the legitimacy of Bitcoin, reducing the stigma among institutional investors and advisors about Bitcoin as an investable asset class.
3. Positive price impact: In 2021, ETF launches in Canada and Brazil led to significant increases in Bitcoin prices before their launch. If launched in the U.S., it will spark investor interest and potentially trigger a similar bull market.

As for the approval, one can keep an eye on the SEC's review of the Spot Bitcoin ETF scheduled for October.