## [# More Americans Own Crypto Than ETFs, BlackRock Finds](/sections/features/more-americans-own-crypto-etfs-blackrock-finds)
# More Americans Own Crypto Than ETFs, BlackRock Finds
A new BlackRock survey sheds light on who’s investing, what they own, and why younger Americans are changing the landscape.
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[By Sumit Roy ](/authors/sumit-roy)
Nov 12, 2025
Edited by: ETF.com Staff
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BlackRock released its latest People & Money report, produced in partnership with YouGov, which surveyed more than 5,000 U.S. adults to understand how they “think, feel, and act when it comes to investing.”
Around 40% of people across age groups invest, meaning age alone isn’t a major factor in whether someone participates in the market. It does, however, influence how people invest.
Those aged over 55 are nearly twice as likely to use a financial advisor compared to those under 55 (45% vs. 23%), according to the report.
Income plays an even bigger role. Among households earning over $200,000, 89% invest. For those earning under $50,000, only 26% do. Gender also matters, with about half of men report investing, compared with roughly a third of women.
*Source: BlackRock*
## What People Own
When it comes to what investors actually own, individual stocks dominate. Two-thirds (66%) of investors hold individual stocks, followed by mutual funds (43%) and bonds (29%). ETFs are growing quickly, with 23% of investors owning them, but interestingly, more investors (27%) report owning cryptocurrencies.
That gap is surprising given the massive difference in scale. In the U.S., ETFs hold roughly $13 trillion in assets (about $19 trillion globally), while the total crypto market cap is only around $3.5 trillion.
The survey results suggest that crypto ownership is far more dispersed, with millions of smaller retail investors holding modest amounts, while ETFs are held across a wide range of investors, including large institutions. ETFs are also widely used by financial advisors, and many individuals may not even realize they own them through managed portfolios.
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## The Next Wave of ETF Investors
In any case, both ETFs and crypto are especially popular among younger investors. Among those aged 18–34, 45% own crypto versus 21% of investors over 35. ETFs also skew younger, with 28% of investors aged 18–34 owning them compared to 20% of those 35 and older.
BlackRock estimates that roughly 24 million Americans currently own ETFs, with retail accounts holding about $2.3 trillion in ETF assets. The report also notes that ETFs are “the fastest-growing product on retail investment platforms in the last five years.”
Beyond traditional products, 12% of investors hold other alternative investments (separate from crypto), and 5% own options.
Looking ahead, the survey suggests that more than 8 million people will buy ETFs for the first time over the next year. Of those first-time buyers, more than 70% are expected to be under 45 years old, and a similar share will earn under $100,000.
About half plan to buy stock ETFs, while nearly as many intend to invest in crypto ETFs. Roughly 29% plan to buy commodity ETFs, and 24% plan to purchase bond ETFs.
Taken together, the findings point to an evolving investor base that’s more open to mixing traditional and unconventional assets.
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[ Sumit Roy Senior ETF Analyst ](/authors/sumit-roy)
Sumit Roy is the senior ETF analyst for etf.com and author of (Don't) Invest Like a Pro. He creates a variety of content for the platform, including… [View Bio](/authors/sumit-roy)
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