Wealth managers may need to reconsider their strategies regarding digital assets. A recent survey indicates that 35% of young, affluent investors changed financial advisers due to a lack of cryptocurrency options.

The survey conducted by Zerohash sampled 500 US investors aged 18 to 40, released on Wednesday, revealed that these investors had annual incomes ranging from $100,000 to $1 million. Notably, over half who switched advisers reported relocating between $250,000 and $1 million in assets.

Survey Results Over half of the investors who changed advisers over crypto were in the $250,000 to $1 million income bracket. Source: Zerohash

Recently, the United States has witnessed a more accommodating atmosphere regarding cryptocurrency, and many financial advisers have yet to catch up. Young investors show less risk aversion compared to older generations.

Moreover, more than 80% of participants noted that their confidence in cryptocurrency increased due to its acceptance by leading financial institutions such as BlackRock and Fidelity.

Growing Crypto Holdings

The research found that a significant portion of respondents with incomes over $500,000 have shifted away from advisers lacking crypto access.

About 84% of all participants intend to increase their cryptocurrency investments in the coming year, with nearly half expecting to boost their allocations meaningfully.

Advisers Risks Falling Behind

Zerohash emphasizes that the results indicate the necessity of incorporating cryptocurrency into contemporary investment strategies and that affluent users are unwilling to wait for their advisers to adapt.

“Advisers who embrace crypto will enhance client loyalty and capture new growth opportunities, while delaying might result in losing ground,” they stated.

Investors expressed a desire for safe and regulated access to cryptocurrencies and expect more than just Bitcoin and Ethereum; a staggering 92% desire a wider selection of cryptocurrencies.

Portfolio Integration Many investors are looking for advisers who can facilitate seamless integration of cryptocurrencies into their portfolios. Source: Zerohash

As the market progresses, asset managers are starting to launch exchange-traded products that offer exposure to various cryptocurrencies, including notable altcoins.