Australians More Likely to Invest in Spot Bitcoin ETFs After U.S. Approval: Study
Summary
Approval of U.S.-listed spot bitcoin ETFs has positively impacted 25% of Australian crypto holders. The Independent Reserve Cryptocurrency Index, based on a panel of over 2,100 adult respondents, shows increased favorability towards bitcoin post-ETF approval. General awareness of cryptocurrency among Australians has reached 95%. 19% of cryptocurrency holders in Australia would invest in a bitcoin spot ETF if available on the ASX. However, economic uncertainty and the cost of living crisis have made some respondents hesitant to invest in crypto, with 18% considering selling part of their crypto portfolio to cope with rising costs. Despite this, a spot bitcoin ETF could be available on the ASX by mid-2024.
