Nevada Takes the Lead in US Interest
A recent study by CoinGecko has revealed that Nevada has emerged as the top US state for interest in spot Bitcoin ETFs, surpassing traditional financial hubs like New York and California. The study analyzed global and domestic interest in cryptocurrency investment vehicles from January 2019 to January 2024 using Google Trends data.
Nevada Leads the Way
Nevada, home to Las Vegas, scored a perfect 100 in interest for spot Bitcoin ETFs. This is particularly noteworthy considering the association of Las Vegas with high-stakes ventures. Washington, DC follows closely behind with a score of 93, while New Jersey and New Hampshire also show enthusiasm with scores of 88 and 87 respectively.
In contrast, New York and California rank lower at 7th and 8th respectively, indicating a more evenly distributed interest across states. Mississippi and North Dakota registered the least interest with scores of 19.
Despite varying interest levels, the study reveals a relatively even distribution of curiosity for spot Bitcoin ETFs across the US, suggesting nationwide anticipation for the introduction of the country’s first spot Bitcoin ETF.
Luxembourg Leads Global Interest
Globally, Luxembourg takes the lead with a search interest score of 100. St. Helena, Singapore, and Switzerland follow closely behind in the 90th percentile. Notably, countries where spot Bitcoin ETFs are already incorporated, such as Switzerland, Germany, Canada, and Australia, rank among the top 15 in interest.
This correlation suggests a growing acceptance and adoption of cryptocurrency in these regions. Brazil, on the other hand, despite having two spot Bitcoin ETFs incorporated, did not make it into the top 15 rankings. This indicates a potential disparity between the availability of spot Bitcoin ETFs and the general public’s interest or awareness.
Hot Take: Growing Interest in Spot Bitcoin ETFs
The study by CoinGecko reveals a significant and growing interest in spot Bitcoin ETFs, both in the US and globally. Nevada’s emergence as the top US state for interest highlights the widespread anticipation for the introduction of the country’s first spot Bitcoin ETF. Similarly, Luxembourg’s leading position globally showcases the increasing acceptance and adoption of cryptocurrency in various regions.
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