- US crypto craze: Ownership jumps to 40%, Bitcoin ETF could draw in millions more.
- 2024: The year of the Bitcoin ETF? Industry giants battle for approval, blockchain braces for impact.
- Women on the rise! Crypto scene gets more diverse, Laura Shin and Cathie Wood leading the charge.
As cryptocurrency adoption continues to gain momentum among Americans, the prospect of a spot Bitcoin ETF approval is capturing the attention of both existing and potential investors.
Growing Crypto Adoption in the US
According to Security.org‘s poll of 1,500 Americans, 40% of respondents currently own cryptocurrencies. This represents a 10% increase compared to the previous year’s poll, highlighting the growing interest in digital assets.
Among those who are not yet crypto owners, 15% expressed intentions to enter the market this year. Even more notably, 21% of non-crypto owners indicated that they would be more inclined to invest if a spot Bitcoin ETF received approval.
Positive Sentiment Surrounding Bitcoin ETFs
The poll revealed that 46% of respondents believed that the approval of Bitcoin ETFs in 2024 would have a positive impact on the blockchain industry. This sentiment reflects the anticipation surrounding the potential introduction of these investment vehicles.
Currently, there are 13 active spot Bitcoin ETF applications awaiting review by the U.S. SEC. The earliest decision deadline for these applications is January 15th. Notable contenders in this space include industry giants like BlackRock, Fidelity, Franklin Templeton, and others. The Bitcoin price has been on an upward trajectory for the past two months, partially fueled by the anticipation of ETF approval.
Crypto Ownership Trends
Among current crypto owners, 63% expressed the intention to acquire more cryptocurrency over the next year. Bitcoin, Ethereum, Dogecoin, and Cardano are the most sought-after digital assets among these enthusiasts.
The poll also revealed that cryptocurrency owners are typically young and predominantly male. However, there has been an increase in the number of women entering the crypto space over the past year. This rise in female participation can be attributed to greater visibility of women in blockchain-related news and their involvement in cryptocurrency and blockchain companies. Prominent figures like Laura Shin, Cathie Wood, Senator Cynthia Lummis, and SEC Commissioner Hester Pierce serve as notable examples.
North America: A Leading Crypto Market
Chainalysis, a blockchain intelligence firm, previously reported that North America is the world’s largest cryptocurrency market, contributing to 24.4% of global transaction activity. This underscores the significant role that the region plays in the cryptocurrency ecosystem.
As the crypto landscape evolves and regulatory developments unfold, the potential approval of Bitcoin ETFs could further shape the industry’s trajectory, drawing in both existing enthusiasts and newcomers seeking to invest in this exciting digital frontier.