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Grayscale Investments®, a leading crypto asset management firm, offering more than 30 crypto investment products, today released additional findings from its national longitudinal survey, 2024 Election: The Role of Crypto, conducted on its behalf by The Harris Poll. The new data highlights the views and values of both younger and older high-net-worth Americans with $1 million or more in investible assets* around crypto, investing, the financial system and policy.

Among the findings, over a quarter (26%) of high-net-worth Americans with investible assets of $1 million or more currently own cryptocurrency, which is higher than the 20% average of all Americans. The data also revealed that nearly 2 in 5 Americans (38%) with investible assets of $1M or more expect their investment portfolio will include crypto in the future. This trend spans across age groups, with more than half (53%) of high-net-worth Americans under 50 and 22% over 50 anticipating crypto in their portfolios. Additionally, 17% of those over 50 and 35% under 50 are interested in learning more about Bitcoin as an investment option.

The data suggests that high-net-worth investors are potentially more attuned to the economic landscape and have grown more comfortable with cryptocurrency following the approval of spot crypto ETPs in early 2024. In fact, more than a third (36%) of high-net-worth Americans with investible assets of $1M or more say they are paying closer attention to Bitcoin and other crypto assets due to geopolitical tensions, inflation, and a weakening US dollar. Additionally, 34% of these high-net-worth individuals report that the approval of spot Bitcoin ETFs** has increased their interest in learning about or investing in Bitcoin.

"This new data highlights the growing confidence among high-net-worth investors in crypto as a potential long-term investment opportunity," said John Hoffman, Head of Distribution and Partnerships at Grayscale Investments. "With market dynamics shifting following the approval of spot crypto ETFs, affluent investors are increasingly viewing digital assets as an essential part of their portfolios, further cementing crypto’s place in the future of finance."

Additional findings around high-net-worth Americans include:

• High-net-worth Americans are turning to financial advisors for guidance on crypto investing more than the average American – and taking action as a result: When high-net-worth crypto owning Americans with investible assets of $1M or more were asked why they purchased crypto, just under half of respondents (42%) said it was “because a financial advisor/professional recommended it” (compared to only 27% of Americans, more broadly).   
• High-net-worth Americans are much more likely to talk about crypto: 40% of American high-net-worth investors say they have discussed crypto with others, including friends, family and their financial advisor (compared to only 30% of the general population).  
• Many high-net-worth Americans aged 50+ are interested in learning more about crypto: Almost 1 in 4 (23%) of high-net-worth Americans over age 50 with investible assets of $1M or more say they are interested in learning more about Bitcoin and/or actually buying and using it as an investment option.
• High-net-worth Americans across all ages are following crypto regulations and policy: 43% of high-net-worth Americans over age 50 say they are waiting for additional policies and/or regulation before investing in crypto. 48% of high-net-worth Americans under age 50 said the same.

*Respondents were specifically American adults who planned to vote in the 2024 presidential election with investable assets of $1 million or more

**We use ETF in place of ETP in order to maintain consistency in the questions asked to participants over time. Spot crypto ETPs are not registered under the Investment Company Act of 1940 (or the 1940 Act) and therefore are not subject to the same regulations and protections as 1940 Act registered ETFs and mutual funds.

Methodology

The research was conducted across three waves from late 2023 through September 2024 (November 27-29, 2023, April 30th-May 2nd, 2024; and September 4th-6th, 2024) among a total of 5,368 adults (aged 18 and over) who planned to vote in the 2024 presidential election including 412 who have investable assets of $1 million or more (75 own crypto and 337 do not) by The Harris Poll on behalf of Grayscale via its Harris On Demand omnibus product.

Data was weighted where necessary by age, gender, race/ethnicity, region, education, marital status, household size, household income, employment, and propensity to be online, to bring them in line with their actual proportions in the population.

Respondents for this survey were selected from among those who have agreed to participate in Harris Poll surveys. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.8 percentage points using a 95% confidence level. This credible interval may be wider among subsets of the surveyed population of interest. All sample surveys and polls, whether or not they use probability sampling, are subject to other multiple sources of error, which are most often not possible to quantify or estimate, including but not limited to: coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments.

To learn more about the survey and download the full report of the findings, please visit www.grayscale.com/HNWReport 

About Grayscale Investments®

Grayscale enables investors to access the digital economy through a family of future-forward investment products. Founded in 2013, Grayscale has a decade-long track record and deep expertise as an asset management firm focused on crypto investing. Investors, advisors, and allocators turn to Grayscale for single asset, diversified, and thematic exposure. For more information, please follow @Grayscale or visit grayscale.com.

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