The Rise of Crypto in France: How to Join the YOLO Revolution without ETFs
A recent study reveals that French investors are more interested in cryptocurrencies than in stocks or ETFs. This contrasts with the US, where ETFs are highly anticipated.
The study, conducted by OpinionWay, surveyed 1,000 French individuals aged 18 and above. It found that 24.6% of them have some form of investment, and that 9.4% of them own cryptocurrencies. This is higher than the 7.3% who own stocks and the 2.4% who own ETFs. This means that French investors hold crypto at least 4.5 times more than ETFs.
The study also suggests that the rise of crypto has infused a “You Only Live Once” (YOLO) spirit into the French investment landscape. Many young and novice investors are attracted to the high returns and volatility of crypto, while also being aware of the risks involved.
The low interest in ETFs among French investors has sparked a debate about the appeal of ETFs in different markets. Changpeng Zhao, the CEO of Binance, the largest crypto exchange, commented: “I guess ETF is a big deal in the US, but not elsewhere.”
Zhao was referring to the hype surrounding the potential approval of a Bitcoin spot ETF in the US. Many crypto enthusiasts believe that an ETF would open the door for institutional investors to enter the crypto market, and thus boost the price and adoption of Bitcoin and other cryptocurrencies.
However, some argue that ETFs are not necessary for crypto growth, and that they may introduce more regulation and centralization. Moreover, some countries, such as Canada and Brazil, have already launched their own crypto ETFs, but they have not had a significant impact on the global crypto market.
