TL;DR
- The United States reclaims its leadership in the crypto market thanks to Donald Trump’s return and the growth of Bitcoin ETFs.
- The U.S. share of Bitcoin-to-dollar transactions has increased from 40% in 2021 to 53% in 2024.
- Bitcoin and Ethereum futures contracts on CME Group reach all-time highs, solidifying the platform as the global leader.
The United States has regained its primacy in the crypto market, driven by Donald Trump’s return to the presidency and the growing interest in exchange-traded funds (ETFs) and digital asset derivative contracts in the country.
This shift has deeply altered the global market dynamics, which last year seemed to be more focused on Asia due to the strict regulations imposed by the Biden administration. However, with Trump’s re-election, the landscape has changed drastically, and the crypto market in the U.S. has once again become crucial for digital liquidity and benchmark pricing.
One of the key factors behind this resurgence has been the successful introduction of Bitcoin ETFs in the U.S., which began operating in early 2024. These funds have recorded a cumulative daily trading volume of over $500 billion, with net inflows of approximately $36 billion. Their success is evident through the growth of institutional interest in digital assets in the country, positioning the U.S. as the epicenter of cryptocurrency liquidity and trading.
The United States Takes the Crypto Market Throne
The volume of trades during U.S. market hours has increased exponentially. Data shows that the U.S. share of Bitcoin-to-dollar transactions has risen from 40% in 2021 to 53% in 2024. This shift demonstrates a clear strengthening of “liquidity dominance” in the country and reflects a higher participation of financial institutions in the market.
On the other hand, Bitcoin and Ethereum futures contracts on the CME Group platform have reached historical highs in terms of open interest. CME has transformed into the global leader in Bitcoin futures, surpassing foreign platforms like Binance.
Additionally, liquidity in the crypto market has improved significantly since the collapse of FTX in 2022, and Bitcoin ETFs have played a crucial role in the recovery, restoring market depth and closing the liquidity gap left by the exchange’s fall.
The resurgence of the U.S. as the center of the crypto market highlights the potential role the country could play as a leader in the evolution of decentralized finance. However, for this to materialize, proper regulations need to be implemented, and we will have to wait to see concrete and lasting results
