CoinGecko, a well-known cryptocurrency market data aggregator, recently released a research report based on Google search trends. The report compiled the top 15 countries and regions worldwide that are most interested in Bitcoin ETFs. Luxembourg ranked first in Europe, while the United States ranked 12th with a score of 45, lower than expected. Taiwan did not make the list.
Since the beginning of 2024, Bitcoin has experienced significant fluctuations due to rumors of potential approval of Bitcoin ETFs by the SEC. Eric Balchunas, an ETF analyst at Bloomberg, recently revealed that he heard the SEC will officially announce the approval of BTC spot ETF on Wednesday (1/10) at 4 pm Eastern Time, which is approximately Thursday (1/11) at 5:00 am Taipei Time.
The market is currently eagerly awaiting the milestone of the approval of Bitcoin ETF and expects it to drive a substantial increase in Bitcoin’s value, becoming a catalyst for the cryptocurrency bull market.
Will the approval of Bitcoin ETF in the United States cause a global frenzy and extend to the mainstream? A research report published by CoinGecko provides some insights.
The report analyzed Google search trend data from January 2019 to January 2024 for keywords such as “Bitcoin ETF,” “Bitcoin spot ETF,” and “Bitcoin futures ETF,” and ranked the top 15 countries and regions worldwide based on the search interest in Bitcoin ETFs.
The data shows that Luxembourg in Europe ranked first with a perfect score of 100, making it the country with the highest interest in Bitcoin ETFs worldwide. The British Overseas Territory of Saint Helena, Singapore, and Switzerland scored over 90, ranking 2nd to 4th respectively.
In contrast, the United States, which has been a global hotspot for Bitcoin spot ETF discussions since last year, only scored 45 in terms of interest, ranking 12th alongside Portugal and Australia. This may indicate that mainstream retail investors in the United States have not widely embraced the interest in Bitcoin ETFs.
Additionally, it is worth noting that among the top 15, four countries have already established Bitcoin spot ETFs, including Switzerland (4th), Germany (6th), Canada (7th), and Australia (12th, excluding tax havens). Brazil is the only country that has a spot ETF but did not make the list. Seven countries in Europe (including Austria (5th), the Netherlands (8th), and Slovenia (11th)) demonstrate the region’s leadership in the adoption of mainstream cryptocurrencies.
Turning to the Asian region, Singapore takes the lead with a score of 94, ranking first in Asia. Hong Kong, which is actively considering approving Bitcoin spot ETFs, ranked 9th with a score of 66. Interestingly, China, which strictly prohibits Bitcoin, ranked 13th with a score of 43, indicating a significant level of interest in ETFs among the Chinese population. Taiwan, on the other hand, did not make the list.
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Top 15 countries and regions worldwide with the highest interest in Bitcoin ETFs. Source: CoinGecko Research
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Related Reports:
– Bloomberg Analyst: Bitcoin spot ETF expected to be “approved in the early morning of 1/11,” fake SEC news won’t change anything.
– Fake news! Bitcoin spot ETF approved following SEC Twitter (X) hack, BTC surges to 48,000 and then plunges.
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