Nevada has emerged as the leader in the United States for interest in spot Bitcoin ETFs (Exchange-Traded Funds), surpassing traditional financial hubs like New York and California.
This insight comes from a recent study by CoinGecko, which used Google Trends data to analyze global and domestic interest in cryptocurrency investment vehicles from January 2019 to January 2024.
Nevada Emerges as the Top US State
The study points out that the United States, ranking within the top 15 countries, shares a score of 45 with Portugal and Australia. This suggests a relatively lower level of interest compared to European counterparts.
1/ Which states in the US are most interested in Bitcoin ETFs?
Our study shows that Nevada, which is home to the gambling city of Las Vegas, is the most interested in Bitcoin ETFs.
Read the full study: https://t.co/x78yL5rsNU pic.twitter.com/QnyDhPrKfq
— CoinGecko (@coingecko) January 5, 2024
In the U.S., Nevada has emerged as the state with the highest interest in spot Bitcoin ETFs, scoring a perfect 100. This is particularly notable given that Nevada is home to Las Vegas, a city synonymous with gambling and high-stakes financial ventures.
Washington, DC, follows close behind with a score of 93. New Jersey and New Hampshire closely trail in their enthusiasm for spot Bitcoin ETFs, with scores of 88 and 87, respectively.
Surprisingly, traditional financial and tech hubs like New York and California rank 7th and 8th, respectively, indicating a more evenly distributed interest across various states. Mississippi and North Dakota registered the least interest, both scoring 19.
The study also highlights that despite the variance in interest levels, the distribution of spot Bitcoin ETF curiosity in the U.S. is relatively even, with state shares ranging from 0.7% to 3.8%.
This indicates a nationwide anticipation for the introduction of the country’s first spot Bitcoin ETF.
Global Interest Peaks with Luxembourg in the Lead
Globally, Luxembourg leads the pack with a search interest score of 100, followed by St. Helena, Singapore, and Switzerland, all scoring in the 90th percentile.
The findings also highlight a notable trend in established spot Bitcoin ETF markets. Countries where spot Bitcoin ETFs are already incorporated, such as Switzerland, Germany, Canada, and Australia, are among the top 15 in interest.
This correlation suggests a growing mainstream acceptance and adoption of cryptocurrency in these regions.
Brazil, despite having two spot Bitcoin ETFs incorporated, did not make it into the top 15 rankings.
This might point to a disparity between the availability of spot Bitcoin ETFs and the actual interest or awareness among the general public.
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