41% of American Women Investors Own Cryptocurrency

41% of American Women Investors Own Cryptocurrency

Survey identifies crypto investing and other financial trends amongst women
buying crypto on an app

As of late February, 1 Bitcoin is valued at roughly $43,000, though over half of all advisors expect Bitcoin will reach at least $70,000 in value within the next year. Perhaps that's why so many investors are clamoring to add crypto to their portfolios. Even if it’s just a trend, many are hoping that buying crypto will pay off, including U.S. women who invest.

Global investing platform eToro recently conducted a survey of 1,000 American women who hold investments — including stocks, bonds and cryptocurrency — to determine their views on crypto and other financial matters. According to the results, women may be especially confident in crypto's ability to perform.

Women and crypto investing

A separate study from real estate investment platform Fundrise recently illuminated the alarming overconfidence that many investors have when it comes to cryptocurrency's stability. In that study, respondents rated crypto investing as the most stable financial strategy (23.1%), ahead of 401(k)s (11.5%) and real estate investment funds (11.1%).

Women investors in the U.S. may be even more susceptible to the draw of this investment class. Here's what survey respondents told eToro:

  • 41% say cryptocurrency is their top investment choice, second only to domestic equities (53%)
  • 41% currently own cryptocurrency
  • 41% are looking to add to their crypto holdings

As a comparison, a recent survey from Huobi found that 28% of U.S. adults currently own cryptocurrency, while 25% have plans to buy crypto in the future.

Other investing trends for women

In a November survey from Hartford Funds, a slight majority of people shared the opinion that women have different financial needs than men — however, the eToro report takes a closer look at women's unique relationships to finances and investing.

More than a third of female investors in the U.S. told eToro that they are in full control over their household’s finances, and 76% say that investing is a primary part of that role. In addition, 44% report depositing new funds into their investment accounts every month.

Financial challenges for women

The pandemic has caused setbacks for many groups, though women are among the most affected. In a study from Nationwide, conducted in summer 2021, close to a fifth of women over age 45 who have a retirement plan (18%) reported that they’ve pushed back plans to retire as a result of the pandemic.

In the eToro survey, 48% of respondents say the pandemic caused them to have less disposable income.

Women also reported roadblocks to better investing:

  • 27% find their greatest challenge to be knowing what they should invest in
  • 52% seek advice from friends and family when making investment decisions

Notably, 17% of financial advisors said that they learn about crypto specifically from friends and family in a Bitwise survey conducted in December.

But despite the challenges that women investors face, 79% say they believe they’ll ultimately achieve their retirement goals through their respective current investment approaches.

Methodology: Research for the eToro survey was conducted by Appinio between Feb. 4-15, 2022; 9,504 female retail investors from 14 different countries were polled, including 1,000 U.S.-based respondents. Female investors were defined as those who held investments that included bonds, funds, crypto assets, currencies, equities, FX and cash linked to stock markets (however, they did not need to be eToro users).