Real Research surveyed on the Securities Exchange Commission approving the BTC ETF, and how the approval would be reflected in the crypto space. The data revealed the findings, as shown below.

Highlights:

  • 68.3% of respondents stated that they knew about the SEC’s spot BTC ETF approval.
  • 53.93% agree that the SEC manipulated the market by falsely informing on Twitter about the BTC ETF approval.
  •  29.67% agree that the BTC ETF would act as a catalyst for crypto adoption

68.3% of respondents stated that they knew the SEC’s Approval of Spot Bitcoin ETF in January 2024. 1.7% stated they were not aware of the BTC ETF application.

SECs-Tweet-Before-BTC-ETF-Approval
Figure 1: Opinion on SEC’s Tweet Before BTC ETF Approval

Just one day before the BTC ETF was approved, there was an announcement that the ETF was approved. However, later on, it was found out that the SEC’s official Twitter account was hacked.  53.93% of respondents strongly agree that the SEC did this to manipulate the market. Others (37.15%) agree on the market manipulation, while 8.65% disagree and 1.27% strongly disagree that the SEC manipulated the market with a tweet.

Spot Bitcoin ETFs in the United States

63.88% of respondents strongly believe that the BTC ETFs will open the crypto market to institutional investors, which could increase the price of Bitcoin. 32.23% of respondents somewhat believe that SEC’s Approval of Spot Bitcoin ETF in United States could increase BTC prices.

3.15% do not believe that SEC’s Approval of Spot Bitcoin ETF in the United States could increase the price of BTC, while 0.73% strongly do not believe the above stated notion.

Survey on SEC’s Approval of Spot Bitcoin ETF Products

Real Research questioned the other altcoins that could be affected by spot Bitcoin ETF approval in the United States. As per the results, 13.32% of respondents state that Ethereum would be most affected by Approval of Bitcoin ETF, while 9.24% of respondents think that XRP would be the next altcoin to be affected as much. 8.15% of respondents state that BNB will be the third on the list to be impacted by the spot Bitcoin ETF approval in the United States.

Altcoins-impacted-by-BTC-ETF-approval
Figure 2: Altcoins impacted by BTC ETF approval

Experts speculate that ETFs for other altcoins would be provided apart from the BTC and ETH ETFs. 28.78% of respondents strongly agree to the experts speculation, while 59% agree. 10.25% disagree and 1.97% strongly disagree that other altcoin ETF would be approved in the future.

Opinion-on-altcoin-ETF-approval
Figure 3: Opinion on altcoin ETF approval

29.67% of respondents strongly agree that the BTC ETF approval would act as a catalyst to further boost the development of the crypto industry overall. 57.82% agree with the above notion. However, 10.72% of respondents disagree, while 1.80% strongly disagree to the notion that BTC ETF could be a catalyst for crypto development. 

Methodology

Survey TitleSurvey on SEC’s Approval of Spot Bitcoin ETF
DurationJanuary 04 – January 11, 2024
Number of Participants6,000
DemographicsMales and females, aged 21 to 99
Participating Countries Afghanistan, Algeria, Angola, Argentina, Armenia, Australia, Azerbaijan, Bahrain, Bangladesh, Belarus, Benin, Bolivia,… Brazil, Brunei, Bulgaria, Burkina Faso, Cambodia, Cameroon, Canada, Chile, China, China (Hong Kong) China (Macao), China (Taiwan), Colombia, Costa Rica, Croatia, Czech Republic, Ecuador, Egypt, El Salvador, Ethiopia, Finland, France, Gambia, Georgia, Germany, Ghana, Greece, Greanada, Guatemala, Honduras, Hungary, India, Indonesia, Iraq, Ireland, Israel, Italy, Ivory Coast, Japan, Jordan, Kenya, Kuwait, Kyrgyzstan, Latvia, Lebanon, Libya, Lithuania, Malaysia, Maldives, Maluritania, Mexico, Moldova, Mongolia, Morocco, Mozambique, Myanmar [Burma], Namibia, Nepal, Nicaragua, Nigeria, Oman, Pakistan, Palestine, Panama, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russia, Saudi Arabia, Serbia, Sierra Leone, Singapore, Slovakia, South Africa, South Korea, Spain, Sri Lanka, Tanzania, Thailand, Togo, Tunisia, Turkey, Turkmenistan, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Venezuela, Vietnam, Yemen, Zimbabwe.