There is considerable anticipation when it comes to Bitcoin spot ETFs in the crypto community. Most investors are following every update on the matter. Recently, Google Trends revealed that the total number of searches regarding Bitcoin spot ETFs has surged by a visible number within the United States.
Both retail and institutional investors have positive expectations and considerable excitement about the arrival of the first-ever Bitcoin spot ETF at the start of 2024.
Google Trends Data
Google Trends data indicates that the total number of Bitcoin spot ETFs hit a peak around the globe hitting five years high. It also revealed that cryptocurrency investors’ interest in the product has increased to the highest level in years.
Meanwhile, searches based on the keywords Bitcoin ETFs increased to 39. This two-word keyword volume increased to the highest in two years since the introduction of BTC futures ETF during the last two years.
The data from Google reveals that investors are increasingly interested in any development on the matter of Bitcoin spot ETF approval. At the same time, there is a clear expectation of the product in question to have a significant impact on Bitcoin capitalization. Bitcoin is the first ever digital currency with the biggest market cap.
The Securities and Exchange Commission availed the next deadline to issue a decision on the matter. On this account, the positive stance among investors regarding approval of spot ETF for BTC has increased to take place in 2024.
Investors are Waiting for Spot Bitcoin ETF
Securities and Exchange Commission opting for the next date on the matter has increased the optimism among investors. At present, investors assert confidence that the first ever spot Bitcoin ETF in USA will be finalized in the early months of 2024.
On this account, many investors are positive that the event will be coincided by a new wave of liquidity. Bitcoin ETF is also viewed as a measure for the wider acceptance of cryptocurrency products in the financial markets.
Ark Invest and BlackRock Submitted their Applications for Spot Bitcoin ETFs
One of the main factors that spark confidence among Bitcoin investors regarding the approval of Bitcoin spot ETFs is the product led by some of the financial behemoths. Companies like Ark Invest and BlackRock have filed for spot Bitcoin ETF applications.
Firms that have filed the spot ETF application through NASDAQ have also added Coinbase to complete the surveillance sharing agreement (SSA). SEC officials insisted on the inclusion of SSA as one of the terms to approve a spot Bitcoin ETF.
All the indicators from the market point towards increasing demand and a vote in favor of Bitcoin spot ETF. It is important to note that the SEC also opened the floor for members of the public to share their feedback on the matter.
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