ETFs Charted - EU's Crypto ETPs Landscape

Europe's Crypto ETPs: A Growing Feast, But Not the Biggest Table

As of today, Europe's crypto ETP market boasts a sizeable AUM of nearly $12 billion, showcasing investor interest in the region. However, it's important to note that North America holds a significant lead.

The U.S. ETF market towers at $57 billion after the historic launch of the spot Bitcoin ETFs, while Canada's market sits at $4.5 billion.

Europe's Crypto ETP Frenzy Fizzles

While the launch of the U.S. spot Bitcoin ETFs initially sparked a global firestorm of interest and sent Bitcoin prices soaring, Europe's love affair with crypto ETPs appears to be cooling off.

After a record-breaking year in 2021 with inflows surpassing $2 billion, investor enthusiasm has waned. Inflows dipped to $901 million in 2022, and despite a slight rebound to $1.05 billion in 2023, the first half of 2024 paints a concerning picture.

Year-to-date figures reveal a sharp reversal, with outflows exceeding $333 million.

Europe Takes the Crown: Crypto ETPs Flourish Across the Pond

Europe has emerged as the global leader in crypto investment options, boasting a staggering 135 exchange-traded products (ETPs) – far surpassing offerings in the US (35 ETFs) and Canada (32 ETFs).

While Canada pioneered the scene with the first spot Bitcoin ETF in 2021, followed by the US in early 2024, Europe has charted a different course.

Instead of ETFs, Europe primarily utilizes exchange-traded commodities (ETCs) and exchange-traded notes (ETNs) to provide exposure to cryptocurrencies.

These instruments, just like ETFs, trade on regulated exchanges, offering investors a familiar and accessible platform through traditional brokerage accounts.

Notably, Europe did welcome its first-ever spot Bitcoin ETF in August 2023 – the Jacobi FT Wilshire Bitcoin ETF (BCOIN) – listed on the Euronext Amsterdam exchange.

Europe's Crypto Buffet: Beyond Bitcoin and Ether

While North America currently offers a limited crypto menu with ETPs focused on Bitcoin and Ether (with futures as the only option so far for Ether exposure in the U.S.), Europe boasts a staggering 34 different coins on the table.

However, the landscape might be shifting soon. The U.S. is considering spot Ether ETFs, and both Canada and the U.S. have seen filings for spot Solana ETFs.

Could North American investors be catching up to the European crypto feast?

League Tables

You can track who runs the crypto show across the globe with our industry league tables. In the meantime, here are a couple of charts on the largest crypto ETP issuers in Europe and the largest ETPs available.

Download our Global ETF Survey Report 2024