New data released by multi-asset investing platform eToro shows that the crypto boom has created a new generation of investors.
The data shows that 73% of new investors who joined eToro in 2017 and 2018 have purchased crypto.
Out of these investors, more than one in ten (11%) have gone on to invest in other asset classes ranging from stocks, commodities, and forex.
44% of the investors who have diversified are aged between 24 and 35, marking a prominent change in the status quo for younger investors.
This shift has also been identified across the world with 10% of UK crypto investors diversifying their portfolio, while in Italy and China, 14% and 12% of crypto investors respectively have invested in other asset classes.
Stocks are the most popular asset class after crypto
According to eToro’s data, one-third of crypto investors have moved into the stock markets.
Among investors who were aged 24-35, 42% of them chose stocks as their second asset class – possibly marking a newfound popularity for the asset class.
The data also indicates that crypto positions lasted 71 days longer than the next longest held asset – ETFs.
Iqbal Gandham, UK managing director at eToro, noted: “We now have an opportunity to show those people whose first experience of investing was crypto that other opportunities exist.
“By making sure people can access all the assets they want to own in one place, we can encourage a new generation of investors to take more control of growing their wealth with a diversified portfolio of investments, including crypto.”
Interested in reading more statistics from eToro? One eToro survey indicates that 43% of millennials trust crypto over stocks.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.