ETC Group Research Reveals US and Canadian Institutions Engaging In Bitcoin As China Withdraws


LONDON–()–ETC Group (www.etc-group.com) has released its latest research on Bitcoin and Ethereum as part of its regular series of market reports. Highlights of the reports include:

  • The Houston Firefighters Relief and Retirement Fund and CDPQ, the second-largest public pension plan in Canada, lead the way with the first US and Canadian public pension fund investments with $25m and $400m invested in crypto assets respectively.
  • China’s share of global Bitcoin mining dropped from 75.6% in September 2019 to 0% in August 2021; the US was the biggest beneficiary of displaced miners, with Foundry USA growing its share from 7.7% to 16.5% since October 2021.
  • Institutions including Goldman Sachs and JP Morgan reaffirmed their confidence in Bitcoin market growth in 2022 as TP ICAP started trading cryptocurrency derivatives for the first time in January 2022.
  • Ethereum NFT sales rocketed by 15,000% while Ethereum DeFi jumped 764% to over $150bn TVL.

Bradley Duke, CEO of ETC Group comments: “In these times of rampant inflation the search for an inflationary hedge has become even more important. Even stable Western economies have joined the likes of Turkey in seeing increasing inflation while Gold, traditionally the go-to store of value in times of economic troubles, has failed not only to attract new investors, but even to maintain its store of value losing around 4% of its value in 2021. As a result we’re seeing more institutions, including pension funds and others pushing into the crypto markets to try to increase their value over the long term. Meanwhile market infrastructure is expanded and strengthened by the involvement of players like TP ICAP. Despite the current leaning bearish market, digital assets are clearly here to stay.”

The full reports can be found here:

The State Of Bitcoin: https://etc-group.com/blog/the_state_of_bitcoin/

The State Of Ethereum: https://etc-group.com/blog/the_state_of_ethereum/

Cryptocurrencies are highly volatile, and your capital is at risk. Disclaimer: https://bit.ly/etcdisc

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Editor’s information

About ETC Group

ETC Group develops innovative digital asset-backed securities including BTCetc – ETC Group Physical Bitcoin (BTCE) and ETHetc – ETC Group Physical Ethereum (ZETH) which are listed on European exchanges including XETRA, Euronext, SIX, AQUIS UK and Wiener Börse. ETC Group launched the world’s first centrally cleared Bitcoin exchange traded product (ETP) in June 2020 on Deutsche Börse XETRA, Europe’s largest ETF trading venue. ETC Group is continuously working on expanding its suite of institutional-grade cryptocurrency backed ETPs, providing investors the opportunity to gain exposure to Bitcoin, Bitcoin Cash, Ethereum and Litecoin based digital assets on major European stock exchanges. ETC Group’s securities are marketed by HANetf.



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