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Bitcoin ETF Approval: New Investor Wave? A recent survey conducted in the United States suggests that the approval of a spot Bitcoin exchange-traded fund (ETF) would lead to an increase in potential investors considering entering the cryptocurrency market. The survey, conducted by Security.org with 1,500 US citizens, found that 21% of individuals who have not invested in cryptocurrency are more likely to enter the crypto market if the ETF is approved.
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The survey also points to an increase in cryptocurrency adoption. The rate of individuals who own cryptocurrency increased from 30% in a similar survey conducted last year to 40% this year. Additionally, 15% of those surveyed said they plan to buy cryptocurrency this year.
The majority of respondents agreed that the approval of a spot Bitcoin ETF would have a positive impact on the cryptocurrency market. 46% of those surveyed said they believe the ETF approval would have a positive impact on the market.
On the other hand, 63% of respondents who own cryptocurrency said they plan to invest more in popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Cardano (ADA) in the coming year.
SEC will evaluate the approval of Bitcoin ETF
With all of these developments, the US Securities and Exchange Commission (SEC) is expected to begin evaluating spot Bitcoin ETF applications by January 15. This evaluation could be a harbinger of a new wave of volatility in the market.
Investors may need to closely monitor market reactions during this process and be prepared for potential changes. The approval and launch of a Bitcoin ETF could be the start of a new wave of investors in the cryptocurrency market. However, the impact of such developments on the market cannot always be foreseen.