Crypto Activity Index Surges to New High as Bitcoin Spot ETF Drives Institutional Adoption
CryptoNewsTerminal Staff11 Sep, 2024
Crypto Activity Index Surges to New High as Bitcoin Spot ETF Drives Institutional Adoption
Blockchain data analytics firm Chainalysis reports that the global crypto activity index rose to 0.8 in Q4 2022, surpassing the previous high of 0.7 recorded in Q4 2021. The launch of the BTC spot ETF acted as a catalyst for this increase, particularly in high-income countries like North America and Western Europe. In lower-income countries such as Africa and Latin America, stablecoins saw increased usage for retail and institutional transactions. The BTC spot ETF has had the fastest adoption of any ETF in history and is significantly impacting the crypto industry. Institutional investors are increasingly embracing cryptocurrencies, and the ETF is making it easier for them to gain exposure to this asset class. This trend is expected to continue in the years to come, driving further growth in the crypto market.
