The number of crypto transactions has risen significantly in 2024
Interest in cryptocurrency has surged in 2024, with much of the excitement fueled by the introduction of Bitcoin exchange-traded funds (ETFs). These ETFs, particularly spot Bitcoin ETFs launched in the US in early 2024, have played a major role in boosting crypto activity across the globe. According to blockchain intelligence firm Chainalysis, global cryptocurrency transactions have soared since late 2023, marking a significant rise in adoption.
Bitcoin ETFs have made it easier for both institutional and retail investors to gain exposure to the cryptocurrency market without directly holding digital assets. This development has led to increased participation from wealth advisers and large investors, particularly in high-income regions like North America and Western Europe. In fact, the adoption of these ETFs is happening faster than any previous ETF in history, underscoring the growing mainstream interest in cryptocurrency as an investment vehicle.
Data from Chainalysis shows that the launch of these Bitcoin ETFs has contributed to a sharp uptick in the total value of Bitcoin-related activity. This growth is reflected in their Global Crypto Adoption Index, which peaked in late 2024, surpassing levels last seen during the 2021 bull market. While institutional investors have driven much of the increase, retail investors in regions such as Latin America and Sub-Saharan Africa have also shown growing interest, particularly through the use of stablecoins.
Despite some fluctuations in activity, the arrival of Bitcoin ETFs has cemented their role in the ongoing evolution of the cryptocurrency market, attracting more participants and sparking renewed enthusiasm for digital assets.
