In 2024, the United States became the largest market for Bitcoin ETFs, seeing $44.2 billion in inflows. This dominance is attributed to the approval of spot BTC ETFs by the US Securities and Exchange Commission in January 2024, which significantly boosted investor interest and confidence.

Canada experienced significant outflows of $707 million from its crypto ETFs in 2024. This decline is a stark contrast to the $4.2 billion inflows in 2021. The shift is primarily due to Canadian investors opting for US ETFs, which offer greater liquidity and institutional support.

Canadian crypto ETF investors have shifted towards US-based alternatives due to their enhanced features and regulatory environment. As a result, Canada’s ETF market saw historic outflows while the US market strengthened its position as the leading holder of Bitcoin ETFs globally.