According to a recent EY-Parthenon survey, a significant 70% of crypto investors now integrate digital assets into their wealth management plans.
This shift indicates a move away from viewing cryptocurrencies merely as speculative investments.
Prashant Kher from EY highlighted that beyond trading, cryptocurrencies are increasingly being used for payments, with a 6% rise in this usage among retail investors over the past two years. Accredited investors have shown an even stronger preference for using crypto in transactions.
The survey also reveals that 64% of retail investors have already invested in digital assets, with 69% intending to increase their investments soon. This interest is fueled by the recent introduction of spot Bitcoin ETFs in the US and similar developments globally.
Furthermore, 63% of accredited investors are keen on investing in tokenized real-world assets (RWAs) by 2027. This growing interest reflects a broader desire for innovative investment opportunities.
The rise in DeFi activities, including a 16% increase in staking and an 11% boost in DeFi platform usage, underscores the expanding role of cryptocurrencies in various financial activities.
Pro-XRP attorney John Deaton, who has secured the Republican nomination for a Massachusetts Senate seat, will face off against Democratic Senator Elizabeth Warren in a highly anticipated debate on October 15, 2024.
Ripple Chairman Chris Larsen has recently moved 20 million XRP as part of a larger shuffle involving 50 million tokens.
Tensions surrounding the Ripple vs. SEC lawsuit are intensifying as discussions about a potential appeal gain traction.
BNY Mellon, the largest custodian bank in the U.S., has reportedly secured an exemption from the SEC’s Accounting Bulletin 121 for its institutional crypto custody operations.