A recent report by CoinGecko has shed light on the global interest in Bitcoin Exchange Traded Funds (ETFs). Leading the pack are Luxembourg, St. Helena, Singapore, and Switzerland, with impressive search interest scores in the 90th percentile according to Google Trends data.
The report indicates a distinctive trend, revealing that despite the United States securing a spot within the top 15 countries intrigued by BTC ETFs, it falls behind with a score of 45. This ties it with Portugal and Australia, signaling that the widespread anticipation for BTC exposure among retail investors might not be as prevalent in the U.S.
One noteworthy observation from the study is the prominence of established spot Bitcoin ETF markets in the rankings. Among the top 15 countries exhibiting the most interest, four already have spot Bitcoin ETFs incorporated, including Switzerland, Germany, Canada, and Australia. This underscores the growing significance of these markets in the global crypto landscape.
Interestingly, the rankings showcase a European stronghold, with five European countries reinforcing the region’s leadership in mainstream crypto adoption. Excluding tax havens, Brazil stands out as the only country not making it into the top 15 for Bitcoin ETF interest despite having two spot BTC ETFs incorporated.
Bitcoin ETFs Spark Diverse Interest Across the US
Shifting focus to the United States, the report delves into the states most captivated by BTC ETFs. Surprisingly, Nevada takes the lead with a perfect score of 100, closely trailed by the nation’s capital, Washington DC, with a score of 93. Notably, financial and technological hubs like New York and California find themselves in the 7th and 8th positions, respectively.
The study reveals a relatively even distribution of interest across the 51 states, with each state’s share of BTC ETF interest ranging between 0.7% and 3.8%. This suggests a consistent level of anticipation for the potential launch of the country’s first spot Bitcoin ETFs, regardless of geographic location.
To conduct this insightful study, CoinGecko examined search interest for ‘bitcoin ETFs,’ ‘spot bitcoin ETFs,’ and ‘bitcoin futures ETFs’ using Google Trends data spanning from January 2019 to January 2024. The scores provided in the report represent relative search popularity, with 100 indicating maximum popularity and 0 signifying insufficient search interest data.
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