Retail stock traders are less interested in buying cryptocurrencies than companies working in the crypto and digital assets sector, according to new research from GraniteShares.
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Will Rhind, Founder and CEO at GraniteShares
- More than two out of three are not interested in trading crypto but nearly one in three are interested or potentially interested in investing in companies in the crypto sector
- GraniteShares long and short ETPs include Coinbase and MicroStrategy
The survey included over 800 UK investors, who hold stocks, shares, bonds or other trading investments. Of 17% of respondents hold cryptocurrencies, just 12% are active buyers of cryptocurrency. By contrast, 14% are investing in companies in the crypto space, such as Coinbase. A further 14% are did not know it was possible from the UK.
42% of investors do not think cryptocurrencies are a good investment, 12% believe cryptocurrencies do not fit their outlook and 14% simply do not understand the space. Around 4% of respondents say they are cutting their holdings or in the process of selling out.
Will Rhind, Founder and CEO of GraniteShares:
“Crypto is a volatile space and there remains a lot of mistrust. Many have made money but many have also lost a lot in the space – and of course past performance is no guide to the future. Exchanges, like Coinbase, can make trading revenue when cryptocurrencies go up or down, buying their stock is like selling shovels in a gold rush. We’ve seen interest and assets grow in our leveraged Coinbase ETP over the last six months.”
Source: ETFWorld.co.uk
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