The majority of cryptocurrency owners are now comfortable making digital assets a significant part of their investment strategy, signaling a growing mainstream acceptance of cryptocurrencies, a new report finds.
What Happened: According to Gemini‘s 2024 Global State of Crypto report, 57% of crypto owners say they are at ease with allocating 5% or more of their portfolio to digital assets.
“Crypto investors have proven their resilience over numerous market cycles throughout the years, and the latest downturn was no exception,” Marshall Beard, COO at Gemini said.
The study, which surveyed investors across the United States, United Kingdom, France and Singapore, also highlighted the impact of regulatory clarity on crypto adoption.
In the U.S. and UK, 38% of non-owners cited regulatory concerns as a barrier to investing in cryptocurrencies.
This figure rose to 49% in Singapore, emphasizing the global nature of this challenge.
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Interestingly, the introduction of spot crypto ETFs, both Bitcoin BTC/USD and Ethereum ETH/USD, in the United States has opened new avenues for investment.
The report found that 37% of U.S. cryptocurrency owners hold some crypto through an ETF, with 13% owning crypto exclusively through this vehicle.
“The introduction of spot crypto ETFs in the United States and the significant headway toward thoughtful regulation in many jurisdictions globally has positioned the industry for strong growth as retail investors rejoin the crypto market or get started for the first time,” Beard added.
What’s Next: Investors and industry professionals seeking to delve deeper into these trends and their implications may find valuable insights at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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