Interest in ‘Bitcoin ETF’ is at an all-time high on Google
Discussions regarding a Bitcoin spot ETF have dominated cryptocurrency investors’ conversation circles for the past few weeks. This is due to expectations that the United States SEC may approve private ETFs indexed to the spot price of Bitcoin (BTC).
It is noteworthy that the expected deadline for the Securities and Exchange Commission’s decision is January 10. Analysts and commentators are mostly optimistic about the outcome, which has sparked a bull rally for Bitcoin, reaching multi-year highs above $47,000 per unit.
In this context, interest in ‘Bitcoin ETF’ Google searches also reached all-time highs. The interest index broke the 50 mark last week and has already set its maximum point of 100 this week.
It is important to understand that this value may change by January 13, as the week is still ongoing. Previously, the keyword only broke the 25 mark in late 2021 at the time of Futures ETF approval.
Interest in related Google searches by country
Interestingly, searches for ‘Bitcoin ETF’ are mostly made in countries outside the United States. This suggests that Bitcoin speculators have higher interest following a foreign regulation rather than organic interest to actually acquire the financial product.
Canada (100) is the leading country, followed by Hong Kong (86) and Singapore (85). Additionally, Switzerland (73) was the fourth and Germany (72) was the fifth country with the most interest in ‘Bitcoin ETF’.
The United States currently ranks 9th with 39 interest points.
Similarly, CoinGecko It identified the United States as the 12th most interested country in Bitcoin ETFs from January 2023 to January 2024. In this study, Luxembourg ranked first, followed by St. Helena and Singapore followed.
Bitcoin ETF dominates other social metrics
Meanwhile, related words trended on different social networks. centimeter‘s social dashboard. The words ‘BTC’, ‘ETF’, ’47k’ and ‘BitcoinETF’ were the top four trending words in the last 24 hours.
It is also noteworthy that BTC’s 7-day social dominance is 5.02%, while the ETF dominates at 3.42%. The latter is linked to the words ‘bitcoin’, ‘approved’ and ‘approved’.
Ultimately, these metrics show the importance of the final decision announced this week. Whether bullish or bearish, all eyes of the cryptocurrency market are on the SEC and its Bitcoin ETF approval on January 10. Investors need to be cautious due to expected volatility ahead of the event.
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