Demand for digital asset exchange-traded funds (ETFs) continues unabated, with nearly half of all investors surveyed in a new report claiming they plan to invest in US crypto products. .
It's not just curious baby boomers who are making purchases through their brokerage accounts, Millennials are also eager to get their hands on new products, according to a Thursday report from Charles Schwab.
A total of 45% of respondents said they plan to invest in digital assets through ETFs in the coming year. Last year, that number was 38%.
“ETF investors have become more bullish on some sectors and styles over the last year, with more investors planning to invest in cryptocurrencies through ETFs,” the bank and investment firm said in a report. It is written in
ETFs are popular investment vehicles that allow investors to buy stocks that are linked to the price of underlying assets, from gold and foreign currencies to Bitcoin and tech stocks.
The U.S. Securities and Exchange Commission (SEC) finally said yes Up to 11 spots Bitcoin exchange traded fund In January. When the project was given the go-ahead after a decade of rejection, capital poured in.
As a result, the price of Bitcoin soared to an all-time high of $73,737 in March, a rising tide that fueled a rise in blue-chip digital assets and energized the industry.
Then in May, regulators unexpectedly approved 8 of them Ethereum Equivalent product. Prior to approval, U.S. investors could only purchase crypto futures ETFs.
The Charles Schwab report added that 62% of people who said they plan to buy crypto ETFs are millennials. Just 44% of Gen Xers and 15% of Boomers.
The study interviewed 2,200 individual investors between the ages of 25 and 75 with investable assets of at least $25,000.
Edited by Sebastian Sinclair
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