Australian Crypto Holders' Optimism Boosted by Approval of Bitcoin ETF, Despite Economic Uncertainty

According to the Independent Reserve Cryptocurrency Index, 25% of Australians have a more positive view of bitcoin following the approval of U.S.-listed spot bitcoin ETFs in January. The study was based on a panel of only 2,100 adult respondents, which is a small sample size in a country with a population of over 26 million. The report also revealed that awareness of cryptocurrency among Australians has reached a new high of 95%, but economic uncertainty and the cost of living crisis have made some respondents hesitant to invest in crypto. While a spot bitcoin ETF is expected to be available on the Australian Securities Exchange by mid-2024, the ASX has not given a timeline for approval.