A recent news report described how asset management firms started vying for digital asset products in Europe after the vast popularity of the US spot Bitcoin ETFs.
The US spot Bitcoin ETFs have gained immense popularity worldwide in recent times. Inflows into these Bitcoin ETFs have also reached billions, surging Bitcoin’s role as an asset class. A recent news report has also confirmed the rising popularity of digital asset products in the European Union (EU). According to the report, several asset managers observed a rise in investors’ interest in crypto after the US Bitcoin ETFs.
The report cited several industry insiders confirming the trend of rising crypto adoption in the EU. HANetf, an ETF investment platform in the region, was one of them. Its co-founder, Hector McNeil, stated how there had been a five-time rise in firms willing to launch crypto products. He attributed the US Bitcoin ETFs for this change.
Meanwhile, Christian Staub from Fidelity International Europe said, “The recent approval of the first spot Bitcoin ETFs in the US has spurred interest from investors in cryptocurrencies all over the world.” Other senior executives from firms like VanEck and WisdomTree also affirmed the rising crypto adoption in Europe.
Most of them noted that the US ETFs hadn’t helped inflows rise significantly into European crypto products. But the hype around them had risen with the crypto market’s rise. BTC has rallied to cross $50,000 in 2024, creating hopes for a broad crypto rally soon.
Moreover, Europe could benefit from the crypto scenario since it already has live spot crypto ETFs. Last year, Jacobi Asset Management launched an ETF on the Euronext exchange in Amsterdam. As the ETFs in the US continue attracting inflows, European asset firms could take further note of the same. They have already reduced the fees of their ETFs recently.
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