Discussions about the Bitcoin spot ETF, a hot topic in the U.S. and around the world, have intensified in recent weeks, turning the upcoming decision into a highly anticipated event. The reason for this is the possibility that the United States Securities and Exchange Commission (SEC) might change its stance on special ETFs indexed to the spot price of Bitcoin (BTC). Until now, the SEC has continuously postponed the matter with rejections but was cornered in recent months and forced to review the issue.
Expectations for the Bitcoin ETF
Today, January 10th, is the final date expected for the Securities and Exchange Commission to make its initial decision on the ETF. Analysts and commentators who have been closely following the matter appear highly optimistic about the ETF, which has triggered a bull rally for Bitcoin since its emergence, pushing its price above $47,000.
Consequently, a significant change has been observed in Google search trends. Searches for ‘Bitcoin ETF’ have reached the highest level in history. The interest index shows that last week’s value exceeded the 50-point threshold, and as of this week, it stands at the maximum of 100 points.
Considering that the week is ongoing, it is important to keep in mind that the value may fluctuate until January 13th. Looking back, the keyword last reached the level of 25 during the approval of Futures ETFs in 2021.
Bitcoin ETF Searches by Country
Contrary to the U.S., where the approval is anticipated, ‘Bitcoin ETF’ searches are mostly conducted from countries outside the United States. This suggests that foreign Bitcoin investors are following the matter more closely than those in the U.S., where the approval is expected.
Luxembourg (100) leads the search interest, followed by St. Helena (86) and Singapore (85). Investors in Switzerland (91) rank fourth, while Austria (86) is fifth in the ranking of countries interested in ‘Bitcoin ETF’. The United States is currently at level 45, ranking 12th.
Bitcoin ETF and Trending Keywords
On the other hand, looking at Santiment’s social indicator dashboard, different words have become trending topics on various social media applications. ‘BTC’, ‘ETF’, ’47k’, and ‘BitcoinETF’ are among the words that have trended in the last 24 hours.
Moreover, in crypto-related searches, BTC’s 7-day social dominance is at 5.02%, while ETF’s has risen to 3.42%, which is another noteworthy aspect.
These statements highlight the eagerness with which the final decision is awaited. Accordingly, all eyes are now on the SEC’s decision, which will be revealed in the coming hours of today (January 10th).
