- 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%).
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
| Cryptoasset | Current ranking | Ranking at end of Q2 2023 |
| Bitcoin | 1 | 1 |
| Cardano | 2 | 2 |
| Ethereum | 3 | 3 |
| XRP | 4 | 4 |
| Dogecoin | 5 | 5 |
| Shiba (in millions) | 6 | 6 |
| TRON | 7 | 7 |
| Flare | 8 | 9 |
| Songbird | 9 | 8 |
| Stellar | 10 | 10 |
Source: eToro platform data, 00.00am October 1st 2023
Table 2: Most widely held cryptoassets on eToro by Romanian investors
| Cryptoasset | Current ranking | Ranking at end of Q2 2023 |
| Cardano | 1 | 1 |
| Bitcoin | 2 | 2 |
| Ethereum | 3 | 3 |
| XRP | 4 | 4 |
| Dogecoin | 5 | 5 |
| Shiba (in millions) | 6 | 6 |
| Solana | 7 | 7 |
| TRON | 8 | 8 |
| Flare | 9 | 10 |
| Decentraland | 10 | 9 |
Source: eToro platform data, 00.00am October 1st 2023
Cryptoassets with biggest proportional increase in holders quarter on quarter globally
| Cryptoasset | Increase in holders QoQ as a percentage |
| Orchid | +22% |
| Arbitrum | +14% |
| Livepeer | +10% |
| Origin Protocol | +8% |
| Amp | +6% |
| API3 | +6% |
| Storj | +5% |
| Hedera Hashgraph | +4% |
| Biconomy | +3% |
| Immutable X | +3% |
Source: eToro platform data 00:00am October 1st 2023. Past performance is not an indication of future results.
