Yes, you read it right.
Almost half of millennial online traders (individuals currently aged 21-38 years) have more trust in crypto assets than in the US stock market, according to a survey concerning online investors’ sentiment toward crypto-assets and traditional financial institutions carried out by eToro, a leading investment and trading platform.
The survey inquired 1,000 online traders from ages 20 to 65 and achieved some curious conclusions.
- Nearly half (43 percent) of millennial online traders have less faith in the stock market than in crypto-assets;
- Almost three quarters (71 percent) of millennials that do not trade crypto currently would invest in crypto-assets if they were offered by traditional financial institutions;
- Almost all (93 percent) of millennial crypto traders would invest more money in crypto if they were offered by traditional financial institutions;
- Half of online investors expressed interest in a crypto allocation in their 401k plans;
- Almost half (45 percent) of those who do not trade crypto expressed interest in having some of their 401k allocated to crypto assets;
- Almost three quarters (74 percent) of crypto traders showed interest in seeing that option from their 401k provider.
“We’re seeing the beginning of a generational shift in trust from traditional stock exchanges to crypto exchanges. [...] As more investors become educated on the benefits of blockchain we’ll continue to see this trend play out.” — Commented Guy Hirsch, Managing Director of eToro US.