Cryptocurrency adoption is growing among Americans, and expectations of the approval of a spot Bitcoin ETF could play a role, a new report from cybersecurity research team Security.org shows.
According to a poll of 1,500 Americans, 40% of them now own cryptocurrency, 10% more than last year’s poll, Security.org said. Among those who do not currently hold any cryptocurrency, 15% said they plan to purchase some this year, while 21% said they would be more likely to invest once a spot Bitcoin ETF is approved.
According to the poll, 46% of respondents said they believe the approval of a Bitcoin ETF in 2024 will have a positive impact on the blockchain industry.
There are currently 13 active spot Bitcoin ETF applications on the U.S. Securities and Exchange Commission’s tables, with the earliest decision deadline being January 15th. Among its competitors are giants such as BlackRock, Fidelity, Franklin Templeton, etc. Bitcoin prices have been on the rise over the past two months as potential approval approaches.
Adoption Trends
According to Security.org, 63% of current cryptocurrency owners hope to acquire more cryptocurrencies (mainly Bitcoin, Ethereum, Dogecoin, and Cardano) in the next year.
Cryptocurrency owners are traditionally young and mostly male, but the number of women purchasing cryptocurrencies has increased in the past year, according to Security.org. “This increase is due to the increased visibility of women covering blockchain developments in the news and investing in cryptocurrency and blockchain companies,” the report said, citing Unchained Podcast host Laura Shin, Ark Invest founder and CEO Cathie Wood, and cryptocurrency-friendly senators. “It may be a result of what you do,” he said. Cynthia Lummis (R-WY) and SEC Commissioner Hester Pierce are examples.
Previously, blockchain information company Chainalytic said that North America was the world’s largest cryptocurrency market and contributed to 24.4% of global trading activity.
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