Australians' Interest in Bitcoin Increases Following Approval of Spot ETFs

Australian interest in Bitcoin has increased following the approval of spot ETFs. This follows from the Independent Reserve report, based on the results of a survey in which 2,100 people took part.

The paper said that 34% of Australians had heard news of the approval of exchange-traded funds, and 25% of Australians began to view the first cryptocurrency more favorably after the approval of these products.

A strong increase in positive sentiment was noted among people aged 55 and over, where adherence to digital gold increased by 100%.

The report also said that the Australian Securities Exchange (ASX) is forecast to list a Bitcoin ETF in the first half of 2024. 19% of respondents said they would invest in such a product if it were available on the ASX.

“55% of Australians said they would invest in Bitcoin through a crypto exchange, and 45% would prefer to invest through an ETF. Young Australians prefer direct cryptocurrency ownership, while older respondents consider ETFs more reliable,” the report said.

In addition, crypto investors predicted the price of the first cryptocurrency in 2030. 44% believe that the price of the asset will fluctuate between $30,000 and $100,000, 28.5% of respondents said that Bitcoin will cost more than $100,000.