While traditional asset classes aren’t fostering wider adoption among women, cryptocurrencies seem to have found success in bringing women on board, according to a recent survey.
Data submitted to Cointelegraph by the eToro team highlighted that cryptocurrencies are now the second most popular asset class for women, after cash. This is according to eToro’s latest Retail Investor Beat report, which surveyed around 10,000 global retail investors in 13 countries.
According to the results of the survey, there is a significant increase in cryptocurrency ownership among women. The figures show ownership rose from 29% in the third quarter of 2022 to 34% in the latest quarter. According to the eToro team, this suggests that cryptocurrencies are “succeeding where traditional financial markets have sometimes failed,” meaning it’s bringing in more women.
While cryptocurrency adoption among women took off in the last quarter of 2022, ownership among men only increased by one percent over the same time period.
Meanwhile, despite cryptocurrencies being considered the best-performing asset class last year, the total number of global investors owning cryptocurrencies rose from 36% to 39% quarter-on-quarter.
In addition to being driven by women, the data was also influenced by older investors who bought the dip. Retail crypto-holding investors aged 35-44 and 45-54 each gained 5%, suggesting that older investors are also accumulating crypto.
When it comes to why more investors are venturing into cryptocurrencies, 37% of those surveyed said they are taking advantage of the opportunity to achieve high returns, while 34% said they believe in the power of blockchain and think crypto is a transformative asset class.
In addition to retail investors expressing their faith in blockchain technology by investing, businesses are also starting to do the same. On January 12, Casper Labs found that among the 603 businesses surveyed, 90% already deployed blockchain in some capacity.