More Americans Own Crypto Than ETFs, BlackRock Finds

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.

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.