ETF Survey Reveals Low Interest in Crypto Among Investors
I was slightly perplexed by the findings of a new ETF survey that mentions crypto sentiment. Then I read the fine print.
ETF Survey Findings on Crypto Sentiment
Retail investors show minimal interest in crypto and ESG ETFs for the next six months, according to ETF.com’s 2024 global investor survey. Key statistics include:
- 70% to 80% of investors lack positions in leveraged, inverse, and cryptocurrency ETFs.
- 10% of advisers increased exposure to crypto over the past six months.
- 7.4% of investors ranked cryptocurrency among their top five investment sectors for the next six months.
Gavin Filmore, chief revenue officer at Tidal Financial Group, described the last statistic as surprising, attributing it to possible “crypto fatigue” among younger investors who are perceived as overexposed.
This finding is unexpected given Bitcoin's recent surge, but the survey methodology indicates responses were collected from over 600 participants between August 15 and October 1.
Recent Developments in Bitcoin
Significant events have occurred since then, including electoral victories for Donald Trump and several crypto-friendly Congressional candidates, alongside Bitcoin reaching a new peak near $90,000.
Additionally, US spot Bitcoin ETFs reported $1.1 billion in net inflows on their tenth month anniversary, totaling $3.4 billion in just four trading days following the election.
Vanguard's Position on Crypto
The survey is sponsored by Vanguard, which has stated that crypto does not belong in a balanced long-term investment portfolio. It remains to be seen if Vanguard's stance will evolve in the coming months and how future surveys may reflect changes in investor sentiment post-election.