Crypto Among Top Choices For ETF Investors Across All Age Groups: Schwab

Cryptocurrencies are the second most favored asset class among exchange-traded fund (ETF) investors, reports asset manager Charles Schwab.

A survey published on Oct. 10 showed that around 45% of ETF investors plan to buy crypto products over the next year, trailing only equities, which are favored by 55% of respondents. Crypto remains the top choice for millennials – investors born between 1981 and 1996.

“New Schwab survey is out where they asked ETF investors which asset classes they plan on investing in over next year via ETFs… #1 for Millennials? Crypto. Crypto was #2 for all investors,” wrote co-founder of the ETF Institute Nate Geraci on Twitter.

Geraci added, “as an aside… Wild Schwab has this data & still hasn't launched spot crypto ETFs.”

Even though investors are increasingly looking to the fusion of cryptocurrency and traditional financial instruments, there is disparity among these assets.

Since launching on Jan. 11, Bitcoin spot ETFs have been a success. Adding assets under management among all eleven providers, these amass nearly 5% of Bitcoin’s total 21 million supply. Blackrock leads the pack with more than 365,000 BTC or $22 billion, followed by Grayscale with nearly 220,000 BTC or $13 billion.

However, Ethereum ETFs haven't been as attractive. After approval went through on July 23, investors haven’t flocked to the asset with the same intensity as they did for BTC. Total on-chain holdings top $6.7 billion, according to Dune, with several days registering zero flows both in and out – a clear demonstration of a lack of interest.

While the market awaits for further regulatory clarity from the SEC, other cryptocurrencies might be due to tap into Schwab’s prediction.