Australia’s Bitcoin sentiment jumps after US spot Bitcoin ETF approvals

Australian retail interest in Bitcoin has increased following last month’s approval of spot Bitcoin exchange-traded funds (ETFs) in the United States, according to a recent survey.

Sentiment has demonstrably shifted,” Independent Reserve CEO Adrian Przelozny said of the findings, adding that “we’ve entered a phase of renewed optimism and growth.”

The survey found that 19% of respondents would invest in an Australian Securities Exchange (ASX)-listed spot Bitcoin ETF if one were available now. Respondents aged 25 to 34 and 35 to 44 were most enthusiastic, at 29% and 30%, respectively.

Bitcoin sentiment in Australia was boosted by 25% following the approval, while adoption rates also marginally increased in 2024 — though further adoption was held back by uncertain economic conditions, according to a survey of 2,100 adults in the fifth annual Independent Reserve Cryptocurrency Index, published on Feb. 21.

The rise in positive sentiment was skewed heavily by those aged 55 and above, where favorability towards Bitcoin increased by 100%.

#news #Australia #ETF #crypto

Feb-21-2024 08:22:27 AM