Cryptocurrency has emerged as a sector that has started to attract investment from a large group of women from around the world. In a new report, eToro has said that cryptocurrency is the second most used financial asset for women, right behind cash. In the last two quarters of the year 2022 – between July and December – female crypto ownership increased from 29 percent to 34 percent. In the same time frame, men’s crypto investments increased by just one percent.
The Israeli online brokerage platform has onboarded 10,000 participants from a total of thirteen countries as part of its Retail Investor Beat survey.
“Crypto succeeds where traditional financial markets have sometimes failed,” said UKTN, citing eToro’s report.
The increased involvement of women in the crypto sector was recently highlighted and also recognized by Indian exchanges CoinSwitch Kuber and WazirX.
According to CoinSwitch, female users from India accounted for eight percent of the total transactions it recorded last year.
WazirX claimed in its findings that Indian women have chosen “blue chip tokens” that are believed to achieve higher values in the long run with better liquidity values.
Despite cryptocurrencies not being in great shape in recent months, the sector has welcomed a significant number of entrants.
Last year, on a quarterly basis, total crypto holdings grew from 36 percent to 39 percent, despite the industry having experienced major turbulence.
In addition to female investors, private investors are also jumping aboard the crypto wagon. Crypto ownership by private investors aged 35 to 54 also grew 10 percent last year.
As for eToro, it acquired options trading platform Gatsby in August in a bid to expand its presence and crypto services in the US. The deal was completed for $50 million (approximately Rs. 400 crore) in cash and common stock.
Headquartered in Tel Aviv, Israel, eToro started in 2007 as a fintech company that shifted its focus to the cryptosphere as its business evolved.