As a pioneer in spot bitcoin ETFs, Canada might have its market thrive and face enhanced competition from the US after the related approval of BTC ETFs.
Canadians have access to spot Bitcoin ETFs since early 2021, which has made Canada one of the leaders in cryptocurrency adoption.
Thanks to this head start, the process of incorporating these ETFs as ordinary financial products such as family office holdings and tax-advantaged funds has been steady.
Canadian Bitcoin ETF holders will probably benefit from the US market liquidity flow. In addition, Canadian issuers may encounter stronger competition from their US counterparts, who are also known for having aggressive fee structures.
Even though Coinbase may face competition, it remains positive about the prospects of crypto in Canada.
In December, local exchanges reached $1 billion in assets under management as Canadians showed increasing enthusiasm for digital-based offerings.
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