Charles Schwab, a major player in the finance world, rolled out a new asset management report focused on ETFs. The study highlights that ETFs currently represent 27% of investor portfolios, with a whopping 65% planning to up their investments in ETFs over the next year. Notably, the survey found that millennial investors show the most enthusiasm for these funds. Schwab’s research also points out that 28% of respondents began investing in ETFs to focus on “building wealth,” with cryptocurrencies playing a key role in that strategy.

On Thursday, Nate Geraci, founder of The ETF Institute, discussed the rising prominence of cryptocurrencies in Schwab’s ETF study. “New Schwab survey is out where they asked ETF investors which asset classes they plan on investing in over next year via ETFs,” Geraci remarked. “#1 for Millennials? Crypto. Crypto was #2 for all investors,” he added. Bloomberg’s lead ETF analyst Eric Balchunas said the news was “stunning.”

“Almost half of Schwab’s respondents said they plan to invest in crypto ETFs, more than bonds, international, alts. Pretty stunning,” Balchunas wrote on X.

Interestingly, the survey also notes that almost all ETF investors (96%) describe themselves as somewhat or extremely confident in their ability to choose ETFs that will meet their investment objectives, up from 71% a decade ago. “As an aside,” Geraci added. “[It’s] wild Schwab has this data & still hasn’t launched spot crypto ETFs.”