Study: Almost Half of All ICO Capital Raised in Europe

Study: Almost Half of All ICO Capital Raised in Europe

Almost half of all ICO capital is raised in Europe, according to a report in The Star Online from earlier today. The piece cites a study by European venture capital outfit Atomico which has calculated that 47% of all monies raised by ICO ventures since 2014 are located in Europe. 

As of time of writing (Nov 30, 2017) 90% of that capital has been raised in year-to-date 2017. 

ICOs Disproportionately a European Phenomenon

The same report also cites another set of figures sourced from which claims that Central and Eastern Europe is the most heavily represented region for the absolute number of ICO projects.

Switzerland also appears to be a major ICO player now with half of all European capital emanating from this one country alone. 

The USA remains the largest player in the ICO space, representing 28% of overall revenue with $1130 billion USD in contributions, sitting far ahead of Singapore which sits in second place with revenues at around one third of that figure ($380 million).

The UK is slightly behind on $370 million and the Cayman islands, a tax haven for traditional companies, looks set to become a major pole of attraction for Blockchain start-ups, pulling in $200 million in revenue. 

ICO Downturn

Both the number of ICOs coming to market as well as the funds raised in contributions by ICOs appears to have levelled off in the month of November, likely a result of the recent Chinese ban in September and a series of scandals which have hit the headlines in recent months. 

ICOs continue to raise legal challenges in various jurisdictions as well as controversy due to their unorthodox fund-raising models which have been described as being more akin to concept sales as opposed to business ventures.