Charles Schwab recentyl revealed that 45% of ETF investors are looking to gain exposure to cryptocurrencies, surpassing interest in bonds (44%) and international equities (27%).
ETF expert Eric Balchunas called these findings “pretty stunning.”
Cryptocurrencies had already emerged as a popular choice in a previous Charles Schwab survey, conducted before the introduction of Bitcoin ETFs. Balchunas believes this new data highlights that investor demand for crypto exposure still hasn’t been fully met.
The latest survey also shows that for ETF investors, factors like total cost and the reputation of the provider are the most significant considerations. Younger investors, in particular, show more interest in additional aspects like liquidity and trading volume.
A majority of ETF investors (65%) plan to increase their holdings within the next year, with top motivations being wealth building, rebalancing, protection from downside risk, and tax optimization.
Meanwhile, Bitcoin ETFs have seen mixed flows, with $30.6 million in outflows on Oct. 9, marking the second consecutive day of negative flows, following significant inflows of $233 million on Oct. 7.
Binance has secured a record-breaking $2 billion investment from Abu Dhabi’s MGX, marking the largest crypto investment to date and the biggest transaction settled in stablecoins.
Tom Emmer, U.S. Representative from Minnesota, argued at a March 11 hearing that central bank digital currencies (CBDCs) could undermine American values by enabling unnecessary financial surveillance.
After a prolonged absence from the Indian market due to regulatory concerns, Coinbase has secured authorization from India’s financial regulator to resume its services in the country.
Yesterday, Bitcoin surged to $83,000 but quickly retraced its steps, dropping back below $80,000.