As a seasoned investor who has witnessed the rise and fall of various market trends, I find it fascinating to see the growing interest in crypto ETFs among my fellow investors, particularly millennials. Having started my investing journey around the same age as most millennials, I can relate to their adventurous spirit and willingness to take calculated risks.
According to a research paper named “ETFs and Beyond,” published by investment titan Charles Schwab on October 10th, nearly half of the surveyed individuals expressed their intention to put money into Cryptocurrency Exchange-Traded Funds (ETFs).
A study conducted among 2,200 investors between July 2nd and July 20th found that approximately 45% of those investing in Exchange-Traded Funds (ETFs) expressed interest in crypto products. Yet, it’s worth noting that US equities continue to be the preferred investment choice for 55% of these investors, with plans to invest in them by 2025.
Bloomberg’s senior ETF analyst Eric Balchunas said the results were “pretty stunning.”
Approximately half of the participants surveyed by Schwab expressed their intention to put their investments into Crypto Exchange-Traded Funds (ETFs), rather than bonds, foreign assets, or alternatives. This is quite remarkable.
— Eric Balchunas (@EricBalchunas) October 10, 2024
Millennials Big on Crypto
In addition, Nate Geraci, President of the ETF Store, highlighted another key point: A significant majority (62%) of individuals intending to buy crypto ETFs fall within the millennial age group (between 28 and 43 years old). These individuals tend to be more risk-prone and are inclined towards investing based on their personal values and tailored investment portfolios.
Approximately 44% of the group were from Generation X, aged around 44 to 59, while Baby Boomers, who are approximately 60 to 78 years old, made up only 15% of the total. Interestingly, Geraci found it astonishing that Schwab possesses such data yet hasn’t introduced spot crypto ETFs.
In September, Geraci stated that crypto ETFs made up 13 out of the top 25 largest ETF launches so far in 2024, based on year-to-date inflows. The growing enthusiasm for crypto ETFs can be linked to the introduction of US-based Bitcoin and Ethereum exchange-traded funds this year.
Schwab found that the majority of ETF investors have chosen to stick with their investments, even amidst numerous market-influencing occurrences.
Spot Crypto ETF Outlook
As an analyst, I’ve observed that despite optimistic signals in Bitcoin surveys, US Bitcoin ETFs have experienced a net outflow this week. Specifically, on October 10th, a total outflow of $81.1 million was recorded across the 11 BTC ETFs, marking the third consecutive day of outflows this week, according to preliminary data from Farside Investors.
On an unusual day marked by withdrawals, BlackRock’s flagship IBIT fund experienced a loss of $10.8 million, with Fidelity’s FBTC fund incurring losses amounting to $33.8 million as well. Meanwhile, Bitwise and Ark 21Shares also faced outflows, while the remaining funds reported no such activity.
On the flip side, Ethereum ETFs experienced their biggest inflow day in over a week on Thursday, totaling $10.1 million. BlackRock’s ETHA fund led the way with an impressive $17.8 million, while Fidelity and Bitwise recorded outflows of $3.5 million and $4.2 million respectively.
Currently, cryptocurrency markets are seeing a decline, with a drop of nearly 3% – equivalent to over $60 billion – since the beginning of this week.
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2024-10-12 06:54