A new survey by crypto and stablecoin infrastructure company zerohash found that 84% of the respondents aged between 18-40 in the US plan to increase their cryptocurrency investments in the next 12 months.
Crypto adoption rate spikes among Gen-Z and Millennials
The recent crypto investor survey released by zerohash offered several interesting insights into the adoption of digital assets as an indispensable part of an investment portfolio among the affluent Millennials and Gen-Z populace.
To give details about the respondent background, zerohash designated the research firm Centiment to survey 500 US-based investors. These investors belonged to households with annual income between $100,000 to $1 million.
The survey found that 61% of the surveyed population already holds digital assets as part of their portfolio. Further, 45% of the respondents hold 5-10% of their portfolio in cryptocurrencies, while 11% hold over 20% of their investments in digital assets.
35% of investors have replaced their financial advisor due to a lack of crypto investment options. In addition, 44% of the respondents held crypto in their portfolio, higher than the proportion of private equity, hedge funds, and alternative assets.
Perhaps the most notable insight coming out of the survey is that 84% of the respondents said that they plan to increase the proportion of virtual assets in their portfolio over the coming 12 months.
Almost 46% of respondents said that they expect to increase their crypto holdings “significantly.” This reflects the deepening conviction in digital assets due to the arrival of major financial players.
Asset managers’ entry was the inflection point
82% of the respondents said that the entry of Wall Street titans like Morgan Stanley, BlackRock, and Fidelity Investments has increased their confidence in digital currencies as a legitimate asset class.
Indeed, multiple asset managers have forayed into the digital assets industry over the past year. The US Securities and Exchange Commission, giving the regulatory nod to crypto-focused exchange-traded funds (ETF), proved to be a watershed moment for institutional crypto demand.
Recently, Fidelity unveiled the Fidelity Solana Fund (FSOL) ETF, further making it easier for investors to get exposure to SOL in a compliant way.
