- Research by Galaxy indicates that crypto adoption is outpacing the early internet, especially from the 2020s onward.
- There are over 580 million global crypto users today, with projections suggesting an increase to 8% of the world population by 2025.
- Institutional interest, including the purchase of Bitcoin ETFs by major funds, is significantly driving crypto adoption.
- Options based on Bitcoin spot ETFs, pending further regulatory approvals, could spur another wave of institutional interest.
According to a recent research report by Galaxy, crypto adoption is on par, if not outpacing early internet adoption. Comparing the numbers of internet users in the early days with those of early crypto adopters, the researchers were able to paint an interesting picture.
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While initial figures are fairly similar, with the very early days (i.e., internet in the late ‘80s and crypto in the mid-2010s) closer together, soon the difference becomes more pronounced. From the 2020s onwards, crypto has significantly outpaced adoption of mid-1990s internet use.
Interestingly, that mid-1990s internet era is now almost three decades ago, which would put crypto still in its early stages. With just over 580 million global crypto users, there sure is room to grow.
Global Crypto Usage to Hit 8% By 2025
And a report by MatrixPort suggests that the number of crypto users, currently 7.51% of the world population, will steadily grow to 8% by 2025. A lot of this is, of course, driven by institutional interest, as avid Crypto News Australia readers know.
Exchange-traded funds (ETFs) for Bitcoin, recently approved in the US, Australia, Hong Kong and other jurisdictions, help institutional adoption. Several US pension funds and other large players have bought these ETFs – not to forget companies like MicroStrategy and Japan’s Metaplanet buying up significant amounts of BTC.
Founder of 10x Research, Markus Thielen, told Cointelegraph how institutional interest is driving growth of Bitcoin and Co:
The evolution of Bitcoin has consistently driven price rallies whenever new layers of Bitcoin acquisition were introduced to financial markets. The potential introduction of options based on Bitcoin spot ETFs could trigger another wave of institutional interest.
Markus Thielen, 10x Research
Bitcoin ETF Options Await OCC and CFTC Approval
Thielen is referring to the recent US Securities and Exchange Commission (SEC) approval of options trading on the iShares Bitcoin Trust, IBIT, which will be physically settled, delivering actual Bitcoin upon exercise.
These American-style options offer traders the flexibility to exercise at any point before expiration. The approval is aligned with typical ETF regulations, such as position limits and margin requirements.
Bloomberg’s Eric Balchunas expects this will enhance liquidity and attract significant investor interest, which will benefit Bitcoin ETFs broadly.
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Additionally, according to the SEC, these options will enable investors to hedge against Bitcoin’s volatility, although strong surveillance mechanisms are needed to prevent market manipulation.
While the approval is a significant advancement – by driving the integration of Bitcoin into the global financial system – further approvals from the Options Clearing Corporation (OCC) and the Commodity Futures Trading Commission (CFTC) are necessary before these options can officially be listed.
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