According to data from a leading trading platform, cryptocurrencies have become the second most widely held asset class by women. The cryptocurrency winter and significant declines in the value of virtual coins, absolutely did not prevent this.
Women and cryptocurrencies
The topic of women in financial markets, including cryptocurrencies, seems to be good material for a thesis. Analysts from the popular trading platform eToro decided to tackle a similar topic. They noted that despite the fact that cryptocurrencies were recognized in 2022, as the worst performing asset class, the share of global investors holding them in their portfolios, on a quarterly basis, increased from 36% to 39%. Women are also increasingly likely to hold them.
According to eToro’s Retail Investor Beat report, cryptocurrencies have become the second most popular asset for women. They were overtaken only by cash. According to the data, ownership of cryptocurrencies by female investors increased from 29% in Q3 2022, to 34% in Q4.
Analysts at eToro point out that the above results are a testament to the fact that cryptocurrencies are seeing success where traditional markets have completely failed. Thus, they point to the much more open characteristics of virtual assets. Therefore, traditional markets have proven to be exclusionary for women.
Men are also accumulating crypto
The data of eToro’s Retail Investor Beat report indicates that although 2022, was a bloody period in the crypto market, the adoption and thus asset accumulation did not slow down. What is important to note is their rate of growth for both men and women. For it turns out that the female group of investors, on a quarterly basis, was not inferior to the male one. Accumulation in both cases looked equally aggressive.
The eToro analysts also point out that the older part of the market participants, who are potentially more strongly connected to traditional markets, are less convinced by blockchain technology. It appears, however, that the barriers are receding. Indeed, there has been a significant increase in interest in cryptocurrencies among two separate age groups, those in the 35-44 and 45-54 age ranges. The cluster of cryptocurrency retail investors grew by 5% in both cases.
Why do you invest in crypto?
At the very end, survey participants were faced with a question about their motives for investing in virtual assets. 37% of respondents said they were looking for an opportunity to make high profits. In turn, 34% said they believed in blockchain technology and that it is a potential transformative asset class.
The survey included 10,000 retail investors residing in 13 countries.
