Research Summary
The report analyzes global and US interest in Bitcoin ETFs based on Google Trends data. Luxembourg, St. Helena, Singapore, and Switzerland lead the global interest, while Nevada tops the list in the US. The report also highlights the countries where spot Bitcoin ETFs are already incorporated and the relatively even interest across the US states.
Key Takeaways
Global Interest in Bitcoin ETFs
- Leading Countries: Luxembourg, St. Helena, Singapore, and Switzerland are the countries with the highest interest in Bitcoin ETFs, scoring in the 90th percentile on Google Trends. The US, Portugal, and Australia tied with a score of 45, indicating less than half the interest of Luxembourg.
- Spot Bitcoin ETF Markets: Among the top 15 countries most interested in Bitcoin ETFs, four – Switzerland, Germany, Canada, and Australia – have already incorporated spot Bitcoin ETFs. This dominance suggests a strong correlation between the existence of spot Bitcoin ETF markets and interest in Bitcoin ETFs.
- European Leadership: Five of the top 15 countries are in Europe, reinforcing the region’s leadership in mainstream crypto adoption.
- Brazil’s Absence: Despite having two spot Bitcoin ETFs incorporated, Brazil did not make it into the top 15 rankings for Bitcoin ETF interest.
US Interest in Bitcoin ETFs
- Nevada Leads: Nevada recorded the highest search interest score of 100, followed by Washington DC with 93. New Jersey and New Hampshire also showed high interest, scoring 88 and 87 respectively.
- Financial and Tech Centers Lag: Despite being the financial and technology centers of the US, New York and California ranked 7th and 8th in nationwide Bitcoin ETF interest.
- Even Interest Across States: Interest in Bitcoin ETFs is relatively even across the 51 US states, with each state’s share of interest ranging between 0.7% and 3.8%. This suggests a nationwide anticipation for the country’s first spot Bitcoin ETFs.
Actionable Insights
- Monitor European Markets: Given the strong interest and leadership in crypto adoption, stakeholders should keep a close eye on European markets for potential developments in Bitcoin ETFs.
- Understand Regional Differences: The varying levels of interest across different countries and US states highlight the importance of understanding regional differences when strategizing for Bitcoin ETFs.
- Consider Existing Spot Bitcoin ETF Markets: The correlation between the existence of spot Bitcoin ETF markets and interest in Bitcoin ETFs suggests that stakeholders should consider these markets when planning for Bitcoin ETFs.
