Bitcoin ETF Mania Sparks A Surge In Google Searches

The excitement surrounding the potential approval of a spot Bitcoin exchange-traded fund (ETF) located in the United States is developing, as evidenced by the spike in Google searches for this cutting-edge financial instrument. The increased interest from the general public and retail investors highlights the growing excitement about the possible early 2024 launch of a spot Bitcoin ETF.

According to Google Trends data, this week will mark the peak value of 100 for the global search value of the term “spot Bitcoin ETF” over a five-year period, indicating the highest level of interest among users.

The search value for “Bitcoin ETF” has also increased to 39, the highest level since ProShares’ futures-based ETF was launched two years ago.

Search Trends Highlight Enthusiasm

The increase in searches indicates that more people are actively looking for information on these financial products and how they can affect the market capitalization of Bitcoin, which is currently the largest cryptocurrency in the world.

After the US Securities and Exchange Commission missed a deadline to contest a significant legal setback, market players are becoming more optimistic that the SEC will approve a spot Bitcoin ETF early next year.

The fact that the deadline was missed has increased confidence and raised hopes for the ETF’s adoption in 2024, which will unleash a wave of liquidity.

Bitcoin moving closer to the $30K territory. Chart: TradingView.com

Acceptance of a position a recurring topic in the cryptocurrency world is the Bitcoin ETF, which is frequently regarded as a gauge of the currency’s widespread acceptance. Leading asset management companies, such as Ark Invest and BlackRock, are vying for the top spots in ETF approval.

Cathie Wood takes charge of Ark Invest, and she has carefully modified its applications. An agreement with Coinbase that emphasizes the division of the trust’s assets from the custodian is one such modification.

This answers the SEC’s earlier worries about spot Bitc

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Author: Yuna Rin

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