According to a recent report from Bloomberg, Bitcoin liquidity is increasingly gravitating towards US crypto exchanges, signaling a fundamental change in market dynamics driven by the introduction of the recently approved spot exchange-traded funds (ETFs) for the leading digital asset.
Citing data from research firm Kaiko, US trading venues have emerged as the primary hub for BTC trading, accounting for nearly 50% of the bids and asks within a 2% range of Bitcoin’s mid-price since the beginning of the year.
Spot ETFs Transforming Crypto Markets
The rise of spot Bitcoin ETFs in the US, with several spot ETFs launched on January 11 alongside the conversion of the Grayscale BTC Trust into an ETF, has reshaped the landscape of digital asset trading.
According to Bloomberg, these US-based spot BTC ETFs have collectively attracted roughly $5 billion in investor inflows, propelling BTC’s price to new heights over the past year.
Notably, while trading venues now represent near
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