Among the list of countries vying for the top spot in Bitcoin ATM numbers, Australia broke a new record by crossing 1000 and bringing down its margin with other countries.
Crypto ATMs usually indicate the presence of crypto adoption in a country. The competition for crypto ATMs has also intensified recently. According to reports, the number of Bitcoin ATM installations in Australia has finally crossed the 1,000 mark.
With the record, Australia currently has 1002 active Bitcoin ATMs. Globally, it has retained the third spot in Bitcoin ATM rankings, holding 2.7% of all such ATMs in the world.
The USA and Canada still hold the top two spots on the list. The US reached 1000 on the list in 2017, while Canada did in 2021. While the US holds 82.8% of all such ATMs, Canada accounts for 7.8%. Australia has been a bright spot on this list, and with its current rate, it could surpass Europe soon.
In 2023, Australia had surpassed all of Asia in this ATM network. It is remarkable, considering the country did not have a big presence on this list until 2022. At the same time, reports coming in from the country are upbeat on crypto. There have been indications of an Australian spot Bitcoin ETF. Meanwhile, the number of crypto investors in Australia has risen exponentially.
The report of a spot Bitcoin ETF in Australia is important since the US ETFs have been widely popular. The Fidelity spot BTC ETF has recently seen big investments from famous fund management firms. These firms, United Capital Management and Legacy Wealth Asset Management, have allotted huge sums to the Fidelity ETF.
A report announcing the news said, “Institutional investors’ increasing adoption of spot Bitcoin ETFs during the first quarter demonstrates a growing acceptance and interest in the digital assets market.”
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