ETF investors lack interest in crypto, report finds?
Of course, a lot has happened since the 600+ survey respondents shared their thoughts between Aug. 15 and Oct. 1
Siberian Art/Shutterstock and Adobe modified by Blockworks
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.
I was slightly perplexed by the findings of a new ETF survey that mentions crypto sentiment. Then I read the fine print.
Retail investors are least interested in crypto and ESG ETFs in the next six months, ETF.com’s 2024 global investor survey found. Crypto-related stats in the report, published today, include:
- Between 70% and 80% of investors didn’t have any positions in leveraged, inverse, and cryptocurrency ETFs.
- “Only” 10% of advisers increased exposure to crypto over the past six months.
- Just 7.4% of investors ranked cryptocurrency as one of the top five sectors they want to invest in over the next six months.
Gavin Filmore, chief revenue officer at Tidal Financial Group, is quoted as calling that last finding “a shocker” — citing possible “crypto fatigue” among the “overexposed” younger generation.
Given bitcoin’s latest run, I found this surprising. But then it started to make sense as I scrolled down to the methodology. The more than 600 respondents shared their thoughts between Aug. 15 and Oct. 1.
Of course, a lot has happened since then. Donald Trump and a slew of crypto-friendly Congressional candidates notched wins last week and bitcoin just hit a new high at nearly $90,000.
Then there’s the latest interest in US spot bitcoin ETFs, which tallied $1.1 billion of net inflows on their 10th monthiversary yesterday — making that $3.4 billion in the four trading days since the election).
Perhaps ironically, the survey is sponsored by Vanguard — an asset management giant that has said crypto doesn’t belong in “a well-balanced, long-term investment portfolio.”
I’m curious to see whether Vanguard’s thoughts about the asset class change in the coming months. And how the answers to similar survey questions shift once post-election sentiment is captured.
Get the news in your inbox. Explore Blockworks newsletters:
- The Breakdown: Decoding crypto and the markets. Daily.
- 0xResearch: Alpha in your inbox. Think like an analyst.
- Empire: Crypto news and analysis to start your day.
- Forward Guidance: The intersection of crypto, macro and policy.
- The Drop: Apps, games, memes and more.
- Lightspeed: All things Solana.
- Supply Shock: Bitcoin, bitcoin, bitcoin.
