Around one in three (33%) crypto investors are trading at least once a day with half of them trading several times , new research from GraniteShares shows.
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Will Rhind, Founder and CEO at GraniteShares
- But growing numbers increasingly prefer to trade crypto stocks than cryptocurrencies, GraniteShares research shows
The research found most retail crypto investors are active traders – (24%) say they trade at least several times a month with 25% saying they trade several times a week.
The GraniteShares study found one in seven (14%) UK adults are trading cryptocurrencies with the under-45s dominating. Around one in four (24%) of under-45s trade crypto compared with just 7% of the over-45s.
However the research for GraniteShares, which offers a range of exchange traded products (ETPs) listed in London including 3X leveraged single stock ETPs on Coinbase (3LCO) and MicroStrategy (3LMI), shows there is a growing shift among investors interested in crypto to buy the stocks associated with the sector and not just the cryptocurrencies themselves.
Around one in six (16%) of crypto retail investors prefer to focus on shares associated with the sector compared with 29% who prefer only to buy and sell cryptocurrencies. The other 55% expressed no preference.
The research found a wide spread in the amounts that retail crypto investors are trading each month – around 27% say they trade up to £100 while 22% are trading more than £1,000 a month with 4% estimating the value of their trading exceeds £10,000 a month.
Will Rhind, Founder and CEO of GraniteShares, said: “Cryptocurrencies and digital assets have performed very strongly in the past year after a long crypto winter saw prices dive and a series of scandals such as FTX in the wider market.
“The upcoming Bitcoin halving expected in April this year is likely to mean a further boost to the price of Bitcoin which could have a positive effect on the wider sector and altcoins.
“The growing confidence in crypto is definitely feeding through to companies associated with the sector such as Coinbase and MicroStrategy which are both attracting growing interest on our platforms.”
GraniteShares ETPs are listed on national exchanges in the UK, France, Italy, and Germany. They consist of a suite of index ETPs tracking FAANG stocks and a suite of Short and Leveraged Single Stock Daily ETPs tracking some of the most popular companies in UK US and European markets.
Source: ETFWorld.co.uk
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