Demand for crypto ETFs is still growing, with nearly half of investors surveyed in a recent report saying they plan to invest in US-based cryptocurrency products.
It's not just older investors who are interested in buying through brokerage accounts, but Millennials (born between 1981 and 1996) are also showing enthusiasm for accessing new products, according to a report released Thursday by investment bank Charles Schwab.
Charles Schwab Survey
Specifically, 45% of survey respondents said they plan to invest in digital assets through ETFs in the coming year, compared to 38% in the previous year.
“ETF investors have become more bullish on a variety of sectors and investment styles over the past year, with many of them planning to invest in cryptocurrencies through ETFs,” the banking firm’s report said.
ETFs are a popular investment vehicle that allow investors to buy shares that track the price of an underlying asset, including gold, foreign currencies, Bitcoin and tech stocks.
The U.S. Securities and Exchange Commission (SEC) finally approved 11 spot Bitcoin ETFs in January, marking a turning point after a decade of rejections. The approvals have led to a massive influx of investment capital.
Bitcoin price skyrocketed to a new record of $73,737 in March, with the surge fueling industry growth and lifting top digital assets.
Next, in May, the SEC unexpectedly approved eight Ethereum-based ETFs. Prior to these approvals, investors in the US had only been able to access Crypto Futures ETFs.
Charles Schwab’s report also found that 62% of those planning to buy a crypto ETF are millennials; only 44% are Gen Xers and 15% are Boomers.
The survey interviewed 2,200 individual investors between the ages of 25 and 75, with at least $25,000 in investable assets.
Source: https://tapchibitcoin.io/etf-crypto-still-attractive-with-nearly-50-us-investors-expected-to-buy.html
