Grayscale Investments surveyed 1000 U.S. investors recently; the Digital Currency Group (DCG) owned crypto asset manager has revealed the growing enthusiasm and popularity of Bitcoin as an investable asset class.
Key Takeaways in the Grayscale Survey
Per the survey, more than half of cryptocurrency investors in America, or about 55%, started investing in the space in the past 12 months, showing the demand for Bitcoin has surged within this time frame. According to the report, more than 66% of those who acquired the premier digital currency are still HODLing their bag to date.
About 91% of those investors who have liquidated their Bitcoin portfolio have done so at a good profit margin. The survey revealed that the growth in Decentralized Finance (DeFi) and its attendant investment innovations and the growth of Non-Fungible Tokens (NFTs) have not deterred the influence of BTC in the broader industry. Grayscale unveiled that Bitcoin still accounts for 46% of the total value of crypto markets, despite this apparent growth.
The presence of government-backed investment products linked to Bitcoin has also been cited as a good catalyst for some investors.
“More than three-quarters (77%) of the U.S. investors said they would be more likely to invest in Bitcoin if an ETF existed,” the survey report reads.
Investors welcomed its first Bitcoin Futures-linked ETF product through ProShares back in October. This has fueled the optimism that with more obvious strides, the Securities and Exchange Commission (SEC) can be convinced to approve the first Bitcoin ETF, as many other market regulators have.
Implications for Grayscale
With solid plans to offer an additional suite of digital assets products to meet investor demand, Grayscale has been sailing against the tides to float a Bitcoin ETF product. Armed through the survey with the knowledge that investors’ interest in a Bitcoin ETF has not waned over the past year, Grayscale can draw an additional motivation to meet the SEC’s demands to permit a functioning, full-fledged BTC ETF.
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