A growing percentage of cryptocurrency investors are women, according to recent data from the Wall Street Journal.
The Wall Street Journal reports that one in four customers trading crypto on the Robinhood app are women. While this is still a smaller percentage than female traders in stocks and ETFs, it is a marked increase from years past.
Digital trading platform eToro Group has gathered similar conclusions, reporting that since 2019, female participation in trading on the platform has doubled to 20%.
Chief executive of Webull Financial LLC Anthony Denier told the WSJ that there is currently a 21% participation in crypto trading by women on his firm’s platform, and that the figure is rising.
Rising Crypto Interest
Cryptocurrency as an asset class continues to draw attention. Recent gains by Ethereum, the meteoric rise of Dogecoin, and the record price of Bitcoin have recently drawn attention to individual crypto markets and their investment potential.
In an April press release released by crypto exchange and custodian Gemini, 3,000 American adults were interviewed about their interest level in crypto. The survey found that 63% of American adults are “crypto-curious,” which may be “indicating a promising future for crypto’s growth”.
53% of those expressing curiosity were women, with a full quarter being near retirement age.
COO at Gemini, Noah Perlman said: “This new research signals a valuable and welcome diversification of crypto’s investor base. A broader set of participants establishes a positive long-term evolution of the market.”
Female crypto traders tend to have different investing patterns than their male counterparts, reports crypto trading platform eToro via the WSJ. Some women could be more likely to hold onto their positions in the long-term. eToro also found that more women held Bitcoin and Ethereum, while men tended were more likely to hold Cardano and Tron.
“In general, women are long-term investors, less impulsive, and tend to hold on to their positions, which explains why they are over-indexed on bitcoin,” said eToro’s U.S. managing director Guy Hirsch.
Ultimately, although there’s a long way to go toward reaching gender parity among crypto traders, the trend remains favorable.
“Women should have an equal seat at the table when it comes to cryptocurrency investing,” said Christine Brown, COO of Robinhood Markets.
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