Survey Finds Bitcoin ETF Approval Could Drive Increased Investment from Non-Crypto Users
A recent report from Security.org has revealed a noteworthy increase of 10% in cryptocurrency ownership in the United States compared to the previous year. The report also highlights that 46% of respondents are optimistic about the potential positive impact of approving Bitcoin ETFs in 2024.
The report is based on a survey conducted with 1,500 Americans, which found that 40% of them currently own cryptocurrency. Furthermore, 15% of those who are not yet involved in crypto expressed their intention to make a purchase in the upcoming year. Interestingly, 21% of respondents stated that they would be more inclined to invest if a spot Bitcoin ETF is approved.
The survey results indicate that there is a prevailing sense of optimism among respondents regarding the impact of Bitcoin ETF approvals in 2024. In fact, 46% of those surveyed believe that such approvals will have a positive influence on the blockchain industry. Currently, there are 13 active spot Bitcoin ETF applications that are awaiting a decision from the U.S. Securities and Exchange Commission (SEC), with a deadline set for the earliest on January 15. Notably, major players in the financial sector, including BlackRock, Fidelity, and Franklin Templeton, are among the contenders.
The survey also revealed that 63% of existing crypto owners plan to acquire more digital assets in the next year. The most popular choices for investment are Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Cardano (ADA). It is worth mentioning that the crypto ownership landscape is evolving, with an increasing number of female participants. The survey found that female ownership has risen from 18% to 29%. This shift may be attributed to the growing visibility of women covering blockchain developments and investing in cryptocurrency. Notable figures in this regard include Laura Shin, Cathie Wood, Cynthia Lummis, and Hester Peirce.
Highlighting the prominence of North America, blockchain intelligence firm Chainalysis notes that it is the world’s largest crypto market, accounting for 24.4% of global transaction activity.
In conclusion, the Security.org report provides valuable insights into the current state of cryptocurrency ownership in the United States. The survey results indicate a positive outlook regarding the potential impact of Bitcoin ETF approvals in 2024. Furthermore, the report highlights the evolving landscape of crypto ownership, with an increasing number of female participants. Overall, North America continues to play a significant role in the global crypto market.
