While traditional asset classes fail to foster broader adoption among women, crypto seems to have found success in bringing young women on board, according to a recent survey.
Data sent to Cointelegraph by the eToro team highlighted that crypto is now the second most widely-owned asset class for young women aged 18-34, second only to cash. This comes from eToro’s latest Retail Investor Beat, which surveyed around 10,000 global retail investors in 13 countries.
According to the survey results, there is a significant rise in crypto ownership among young women. Data shows that ownership increased from 29% in the third quarter of 2022 to 34% for women aged 18-34 in the last quarter. According to the eToro team, this suggests that crypto is “succeeding where traditional financial markets have sometimes failed, " which is by bringing in more women.
While crypto adoption among women has taken flight in the last quarter of 2022, ownership among men only increased by one percent in the same time period.
Meanwhile, despite crypto being considered last year’s worst-performing asset class, the overall amount of global investors owning crypto rose from 36% to 39% on a quarter-on-quarter basis.
Apart from being driven by women jumping in, the data was also influenced by older investors buying the dip. Retail investors holding crypto aged 35–44 and 45–54 rose by 5% each, suggesting that older investors are also accumulating crypto.
As for why more investors are getting into crypto, 37% of the survey participants said they are taking the opportunity to make high returns, while 34% said that they believe in the power of blockchain and think crypto is a transformative asset class.
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Apart from retail investors expressing their belief in blockchain technology by investing, businesses are also starting to do the same. On Jan. 12, Casper Labs found that among the 603 businesses that participated in a survey, 90% have already deployed blockchain in some capacity.