With the launch of a Bitcoin (BTC) exchange fund or spot Exchange-traded fund (ETF), the decentralized asset suddenly becomes accessible to the main players in the investment landscape. But such a fund also offers an interesting option for many private investors. A new study has examined how the possible introduction of a Bitcoin exchange fund will affect willingness to invest.
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Impact of BTC ETF on cryptocurrency adoption
Security.org conducted a survey of 1,500 Americans and published the results in a new report. The survey highlights the current state of crypto adoption in the United States and examined the potential impact of a Bitcoin ETF.
40 percent of respondents said they owned digital assets. Last year, Security.org conducted a similar survey and the percentage was still at 30 percent. Of current crypto owners, around 63 percent hope to purchase more coins in the coming year. Bitcoin, Ethereum (ETH), Dogecoin (DOGE) and Cardano (ADA) topped the average list.
21 percent of non-owners said the expected Bitcoin ETF makes them more likely to invest in cryptocurrencies. This would mean up to 29 million Americans could soon join the market.
Additionally, 46 percent believe the approval will have a positive impact on the entire blockchain industry. Those who currently own crypto are even more optimistic.
Will a Bitcoin ETF be approved?
There was chaos in crypto-land today as an analyst from analytics firm Matrixport deviated from the positive market consensus regarding expectations regarding the launch of Bitcoin ETFs.
While almost everyone is expecting a lot of approvals this week or next, Markus Thielen believes that we still have to be patient. In his opinion, we will only see the first Bitcoin ETF in the second quarter.
We'll find out soon enough whether Thielen will prevail. The final deadline for the joint application of ARK Invest and 21Shares is January 10th. The lion's share of the market expects mass approval by then.
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