Low Volume on US Crypto Exchanges as SEC Bitcoin ETF Decision Nears
The cryptocurrency markets face declining volume in the United States as they move closer to the SEC’s decision on two proposed Bitcoin ETFs. According to a recently released report, trading volume is shifting from US based exchanges to Asian exchanges preceding the Bitcoin ETF decision.Trade Volume Shifts to AsiaThe report, conducted by research firm Diar Ltd. using CoinApi data, found an unfolding trend of trading volume shifting from US based exchanges to foreign exchanges, mostly ones located in Asia. It also appears that exchanges with lower regulatory scrutiny are gaining trading volume, as investors shy away from exchanges that require lengthy verification processes, or other forms of KYC/AML rules.The report states:“Traded volumes on Coinbase, Bitstamp and Kraken have seen steep declines. Meanwhile, token exchanges outside the U.S., that have lax regulatory scrutiny, are now seeing an increase in traded volume.”The report also notes that investors in the US are
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