ETF Market Share by Jurisdiction
Daily market share (%) of the combined assets of the three jurisdictions with sufficient historical data: United States (spot Jan 2024+), Europe (ETN/ETP Jun 2020+), and Canada (spot Mar 2021+). The denominator is the sum of these three markets, so the three lines add up to 100% every day and these shares are not shares of world ETF assets. Hong Kong / Asia-Pacific (Apr 2024+) is excluded from the calculation as well as from the display. Reading: Canada/Europe dominant pre-2024 → US sweep post-spot-launch.
What is it?
This chart compares the share of combined assets represented by the United States, Europe and Canada in the collected Bitcoin ETF/ETP series. Each percentage uses only the sum of these three markets as its denominator. Hong Kong is excluded from the calculation and display. The shares sum to 100% within this selected perimeter; they do not measure worldwide ETF market share. The underlying series include estimates and may cover only part of each jurisdiction's products.
How to read
The horizontal axis is time. The vertical axis displays each jurisdiction's percentage of the combined assets of the United States, Europe and Canada. Hong Kong is excluded from the calculation. The three values sum to 100% at each date. Crossing the 50% reference means a majority of this selected total, rather than a majority of worldwide ETF assets. Slopes show relative gains or losses within this perimeter. The optional BTC overlay on the left axis provides price context.
Key zones
Within the selected three-market total: • Above 80%: strong concentration in one jurisdiction • 50% to 80%: majority share • 20% to 50%: substantial relative share • Below 20%: smaller relative share • Below 5%: marginal share within the collected perimeter
What to observe
• Changes in the US share following the January 2024 spot ETF approval • Relative trajectories of Europe and Canada within the selected total • Crossings of the 50% majority threshold within these three markets • Convergence or divergence between jurisdiction shares, without assuming fixed levels • Jurisdictional and issuer concentration as complementary perspectives on the collected ETF series
Historical context
European Bitcoin ETPs and Canadian spot ETFs preceded the US spot ETF approval of January 2024. The US launch changed the product landscape represented in the collected series. Hong Kong's spot ETF approval in April 2024 belongs to the broader historical context, but Hong Kong assets cannot alter these percentages because they are absent from the denominator.
Expert notes
The denominator is limited to the collected series for the United States, Europe and Canada. Hong Kong is excluded from the calculation. Summing to 100% confirms normalization within this perimeter, rather than exhaustive worldwide coverage. The US series uses cumulative net flows from Farside Investors as an asset proxy. Europe and Canada use estimates reconstructed from public market quotations and fund information; product coverage and reconstruction assumptions limit comparisons. Consult absolute asset values alongside relative shares.
Common mistakes to avoid
A rising share does not imply growing absolute assets, and a falling share does not imply shrinking assets. A majority among the three selected markets does not establish worldwide dominance. Changes in markets excluded from the denominator do not change these shares. Do not confuse a market share with a growth rate or treat normalization to 100% as proof of exhaustive product coverage.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/macro-intelligence/metrics/macro-etf-cross-jurisdiction-flow-comparison/data?timeframe=90d' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "macro-etf-cross-jurisdiction-flow-comparison",
"timeframe": "1y"
}Required tier: pro. See the pricing grid for the tier list and the MCP documentation for multi-client configuration.
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Institutional disclaimer
Trinity Insights is an educational and analytical tool. The metric above does not constitute investment advice. Trinity Insights is not a Crypto-Asset Service Provider (CASP) registered under MiCA Regulation (EU) 2023/1114. See the full disclaimer.