Bitcoin maintains top spot on eToro platform as ETF developments heighten investor interest

Bitcoin maintains top spot on eToro platform as ETF developments heighten investor interest

• Bitcoin holds onto its spot as most held crypto on eToro in Q3 2023
• The 10 most held cryptos on the platform have remained stable, with bitcoin and Flare performance outshining peers
• Biggest risers in open positions include Orchid (+22%), Arbitrum (+14%) and Livepeer (+10%)

Friday 13 October 2023, Bitcoin maintained its position as the most held cryptoasset on the eToro platform globally in Q3 2023 as the world’s largest cryptoasset saw ETF market developments heighten investor interest, new platform data reveals.

The trading and investing platform’s quarterly update shows just one shift in positions in the top 10 most held in Q3 compared to Q2 2023, with Flare skipping ahead of Songbird. Bitcoin continued to consolidate at the top while others remained flat in Q3. Stellar also performed well relative to other tokens in the top 10.

Among Romanian investors, however Cardano remains the most held cryptoasset followed by Bitcoin and Ethereum. In general, they continue to hold the same cryptoassets as in the previous quarter, with the exception of an increased interest for Flare, which moved to ninth place, ahead of Decentraland, which fell to tenth.

The biggest moves were seen in smaller tokens globally, with Orchid (+22%), Arbitrum (+14%) and Livepeer (+10%) seeing the largest increase in holders. Also performing well were Origin Protocol (+8%), Amp (+6%) and API3 (+6%).

Simon Peters, Crypto Market Analyst at eToro, commented: “A summer of market speculation around the launch of major institutional bitcoin ETFs has really focused minds among investors in cryptoassets on the eToro platform. Bitcoin has maintained its top spot and has seen more investors take open positions in anticipation of approval of these products.

“Bitcoin ETFs are a potential gamechanger for the market and have been speculated about for some time. But this summer we’ve seen the first tangible step toward potential products coming to market thanks to major institutions such as BlackRock and Fidelity looking to launch their own versions. Unlocking spot price ETFs is potentially hugely influential because it opens the cryptoasset to swathes of investor capital that wouldn’t otherwise have the opportunity to engage in the market.”

Table 1: Most widely held cryptoassets on eToro globally

Source: eToro platform data, 00.00am October 1st 2023

Table 2: Most widely held cryptoassets on eToro by Romanian investors

Source: eToro platform data, 00.00am October 1st 2023

Table 3: Cryptoassets with biggest proportional increase in holders quarter on quarter globally

Source: eToro platform data 00:00am October 1st 2023. Past performance is not an indication of future results.

-ENDS-

Notes to editors

The data in the tables represents the top 10 biggest cryptoasset risers and the top 10 most held cryptoasset positions (open positions) by global and Romanian investors on the eToro platform in Q3 and Q2 2023; it does not include positions held as CFDs or in Smart Portfolios. Data accurate as of October 1st 2023.

eToro’s cryptoasset offering varies based on a user’s country of residence. Some of the cryptoassets mentioned in this story may not be available in certain markets.

About eToro

eToro is the trading and investing platform that empowers you to invest, share and learn. We were founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. Today we have over 32 million registered users from more than 100 countries. We believe there is power in shared knowledge and that we can become more successful by investing together. So we’ve created a collaborative investment community designed to provide you with the tools you need to grow your knowledge and wealth. On eToro, you can hold a range of traditional and innovative assets and choose how you invest: trade directly, invest in a portfolio, or copy other investors. You can visit our media centre here for our latest news.

Disclaimers:

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

UK: Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

eToro is authorised and regulated by the Financial Conduct Authority in the UK, in Cyprus by the Cyprus Securities and Exchange Commission, by the Australian Securities and Investments Commission in Australia and licensed by the Financial Services Authority in the Seychelles.

This communication is for information and education purposes only and should not be taken as investment advice, a personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without taking into account any particular recipient’s investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past or future performance of a financial instrument, index or a packaged investment product are not, and should not be taken as, a reliable indicator of future results. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication.

Regulation and License numbers
Europe

eToro (Europe) Ltd, is authorised and regulated by the Cyprus Securities Exchange Commission (CySEC) under licence number 109/10. Registered in Cyprus under Company No. HE 200585.

The diplomatic daily newspaper Nine O’Clock does not assume responsibility for the information received and published on the public website. The responsibility for the content lies solely with the issuer of the press release.

The diplomatic daily newspaper Nine O’Clock cannot be held accountable for false information transmitted by the recipients of the press releases/announcements.

The diplomatic daily newspaper Nine O’Clock reserves the right not to publish press releases that contain inappropriate expressions or accusations and violations of the rights of other individuals, guaranteed by the Constitution of Romania.

The content of the website www.nineoclock.ro is intended for public information. Copying, reproduction, recompilation, modification, as well as any form of content exploitation from this website are prohibited. The use of the Comments section signifies your agreement to abide by the terms and conditions regarding the publication of comments on www.nineoclock.ro.