Nearly three-quarters (72%) of investors surveyed by Nasdaq support the creation of a spot Bitcoin ETF.
The Nasdaq stock exchange surveyed 500 of its investors to find out their level of interest in cryptocurrencies. The results of the survey showed that 72% of investors have a huge appetite for cryptocurrencies, Especially Bitcoin.
In the aforementioned poll, a significant portion of investors noted that they already own crypto assets, but are looking to increase their exposure and participation in this new digital asset class this year. Likewise, another group indicated that they are seriously considering allocating a portion of their capital to investing in cryptocurrencies, .
The results highlight the growing acceptance that cryptoassets are gaining among retail and professional investors.
However, the survey also brought to light The need to create a Bitcoin spot ETF, which allows investors to directly expose themselves to this digital asset with greater confidence and security, in addition to the need to promote educational initiatives that strengthen knowledge related to the crypto industry and blockchain.
According to Nasdaq, only 9% of investors who participated in the survey feel qualified to professionally advise others on cryptocurrency investments.
It may interest you: US bank allows employees to collect salaries in Bitcoin
Nasdaq investors call for a spot Bitcoin ETF
An ETF, or exchange-traded fund, is one of the most popular and familiar financial instruments for traditional investors. It is therefore not surprising that Nasdaq investors are awaiting the arrival of a Bitcoin spot ETF, which would provide direct exposure to the price of the cryptocurrency.
According to the survey results, Investors would feel more confident in investing in bitcoins and other cryptoassets if there were an exchange-traded fund the Bitcoin.
In the United States, the Securities Exchange Commission (SEC) approved last year the creation of two Bitcoin ETFs that track futures based on the cryptocurrency. However, the approval of a spot Bitcoin ETF, which directly tracks its price on the market, is still unclear.
Several investment companies such as 21Shares, Ark Investment, WisdomTree Investments, among others, have tried on numerous occasions to obtain SEC approval to create a Bitcoin ETF on US soil. So far, none have been successful with the regulator.
US could approve a Bitcoin ETF in the summer of 2023
However, Bloomberg analyst Eric Balchunas said in March that there is a possibility that the US regulator will give the green light to a Bitcoin ETF next year.
The country's regulators are beginning to change their perspective towards cryptocurrencies, which could make the United States the most pro-Bitcoin nation in the world, analyst Dennis Porter noted.
Currently, Grayscale Investments, the largest digital asset fund manager, is seeking SEC approval to convert its investment fund into Bitcoin, Grayscale Bitcoin Trust (GBTC), in a cash ETF. Grayscale currently manages more than 35.800 million in its 14 crypto-asset investment funds.
Leading figures in the crypto industry, such as Michael Saylor, president of MicroStrategy, support the creation of a Bitcoin ETF in the United States. On Twitter, Saylor noted that the creation of this investment vehicle would be positive for investors and the world, to boost mass adoption of cryptocurrencies.
Bloomberg analyst James Seyffart, meanwhile, said that its approval would automatically open up the $26 trillion estimated by financial managers to the crypto market.
Grayscale CEO Michael Sonnenshein said the approval of a Bitcoin ETF for the U.S. spot market is “a matter of when, not if.”
Need for educational initiatives on crypto
Cryptocurrency regulation in various parts of the world and institutional entry are some of the elements that have motivated more investors to diversify their strategies using cryptocurrencies. However, there is still a large educational gap between the crypto and traditional financial world.
As mentioned, only 9% of investors who participated in the Nasdaq survey are confident in their ability to offer professional advice on how to invest in cryptocurrencies. 98% of investors stated that they want to continue educating themselves about this emerging asset class.
Continue reading: Próspera and Madeira adopt Bitcoin as legal tender
