US Regains Leadership in Cryptocurrency Market with ETFs and Political Promises

• ETF launch boosts US crypto market.
• Trump's reelection favors the expansion of cryptocurrencies.
• US leads institutional trading in digital assets.

The United States has regained leadership in the cryptocurrency market, marking 2024 as a turning point for the sector. It The recovery is attributed to the approval of Bitcoin and Ethereum ETFs, in addition to the political promises of Donald Trump, recently re-elected, to transform the country into the “cryptocurrency capital of the world”. This movement repositions the US as a hub of activity in the digital market, after a period of Asian dominance in 2023.

One of the factors that drove the US comeback was the launch of the iShares Bitcoin Trust (IBIT) by BlackRock, which recorded daily trading volumes of over $500 billion and attracted over $36 billion in new investment. This performance cemented the ETF as one of the most successful in history.

Furthermore, Trump’s reelection has brought optimism to investors, who see his administration as crypto-friendly. The former president promised to reverse restrictive measures from the previous administration, led by Joe Biden, and create a more welcoming environment for the crypto industry. This political commitment has driven not only the recovery of market liquidity but also increased institutional interest.

Data shows that Bitcoin trading volume during open hours on U.S. exchanges grew from 40% in 2021 to 53% in 2024, signaling a significant increase in U.S. “liquidity dominance” in the sector. Additionally, Bitcoin and Ethereum futures on the Chicago Mercantile Exchange (CME) reached record levels of open interest, cementing its position as a leader in the crypto derivatives market.

With ETFs expected to be approved for other digital assets such as Solana, XRP and Litecoin, experts believe that the cryptocurrency market in the US will continue to expand, further solidifying its global leadership position.

Another milestone was the recovery of market depth, which was severely impacted by the FTX collapse in 2022. The introduction of ETFs and renewed political enthusiasm played crucial roles in this stabilization, showing that the US market is prepared to face the challenges ahead.