Key Points
- Asia-Pacific’s retail Bitcoin activity is outpacing that of the U.S. and Europe, driven by non-institutional participation.
- Since Bitcoin’s cycle low in December 2022, APAC’s year-over-year supply growth reached 6.4%, while the U.S. and Europe saw a decline.
Retail activity involving Bitcoin (BTC) in the Asia-Pacific region is outpacing the U.S. and Europe. This trend is primarily driven by non-institutional investors.
Bitcoin Activity in APAC
The retail traders in the Asia-Pacific region are making significant strides in Bitcoin trading, leaving the U.S. behind. When we exclude exchange-traded funds and exchange flows, APAC’s retail activity is growing at a faster pace than the U.S. and Europe. This information comes from a recent research report by Gemini in collaboration with Glassnode.
The research team at Glassnode analyzed transaction timestamps, linking Bitcoin activity to working hours in different regions. The findings revealed that retail activity in the APAC region has grown more quickly than in other parts of the world.
Year-Over-Year Supply Growth
Since Bitcoin’s cycle low in December 2022, the year-over-year supply growth in the APAC region has reached 6.4%. In contrast, the U.S. saw a decline of 5.7%, and Europe experienced a drop of 0.7% within the same timeframe.
This trend reflects a shift in retail activity between the U.S. and APAC regions. Institutional investors have significantly influenced Bitcoin flows in the U.S., particularly following the launch of spot ETFs. However, excluding ETFs and exchanges, APAC traders are leading the way.
The launch of U.S. spot ETFs in January 2024 likely played a critical role in this trend. This development opened new opportunities for both retail and institutional investors to gain exposure to Bitcoin.
Moreover, the understanding and education about this asset class have significantly improved, leading to a more mature investor profile.
