Retail Bitcoin activity in the Asia-Pacific (APAC) region has surged ahead of the U.S. and Europe, driven largely by non-institutional participation, according to a collaborative survey by Gemini and Glassnode.
Excluding exchange-traded funds (ETFs) and exchange flows, APAC’s retail Bitcoin activity is growing at a faster rate than in other regions. The research analyzed transaction timestamps and found that Bitcoin trading in APAC has significantly increased during regional working hours, surpassing growth rates in the U.S. and Europe.
Bitcoin Supply Growth Trends
Since Bitcoin’s cycle low in December 2022, APAC has seen a 6.4% year-over-year supply growth. In contrast, the U.S. recorded a decline of 5.7%, while Europe’s supply growth dipped by 0.7% within the same timeframe.
The Role of Institutional Investors
Institutional investors have dominated Bitcoin flows in the U.S., particularly after the launch of spot ETFs. However, in markets outside ETFs and centralized exchanges, APAC’s retail traders have taken the lead.
Analysts believe that the introduction of U.S. spot Bitcoin ETFs in January 2024 has played a crucial role in shifting investor behavior, creating new opportunities for both retail and institutional players to gain Bitcoin exposure.
Crypto Education and Market Maturity
Another factor contributing to this trend is the increasing education and understanding of Bitcoin as an asset class. The market is maturing, leading to a more sophisticated investor profile in the APAC region.
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