Investment banking giants are surprised: crypto is actively penetrating the clientele

The world’s third-largest asset manager, Charles Schwab & Co, an investment fund (after BlackRock and Vanguard, which are first and second, respectively), announced that according to its surveys, nearly half of their younger clients already have investments in crypto. Another major investment bank, Fidelity, conducted a similar survey, ranking the results by country rather than age.

Results from Charles Schwab & Co

Charles Schwab & Co founder and CEO Charles Schwab believes the survey results show an unexpectedly high level of confidence in digital assets, especially among young people. Charles Schwab says interest in cryptocurrencies among Zoomers and Millennials stands in stark contrast to the sentiment of older people from the baby boomer generation.

According to surveys, cryptocurrency has already been bought:

• 43% of zoomers surveyed.
• 47% of millennials.
• 33% of Generation X.
• Only 4% of boomers have invested in digital assets.

The study notes that rising inflation remains the biggest obstacle to retirement among investors as they look for safer investment vehicles to protect themselves from harsh economic conditions. Inflation and recent high volatility in the stock market are among the incentives to shift funds to crypto assets, which in part play the role of protective assets.

Results from Fidelity

This survey is echoed by a similar one from a competitor.

74% of institutions surveyed by investment giant Fidelity plan to buy digital assets in the future, despite the crypto winter. The survey included 1,052 financial institutions from the U.S., Europe and Asia. Unlike Charles Schwab & Co, the Fidelity survey ranked everyone by country.

The largest share of those willing to enter crypto came from Asian respondents (69%), less so from their competitors in Europe (67%) and the U.S. (42%). The latter two indicators grew by 11% and 9%, respectively, over the year.