Would-be voters are warming to crypto, says Grayscale
Poll of roughly 1,700 Americans shows interest in Bitcoin and other cryptocurrencies on the rise, with nearly half planning to raise their exposure.
Nearly half of Americans who plan to go to the polls in November anticipate including cryptocurrencies in their future investment portfolios, according to new survey findings from Grayscale Investments.
The crypto behemoth’s newest research comes as the second phase of a broader study titled “2024 Election: The Role of Crypto,” which delves into Americans’ views on crypto, the financial system, and how these factors might influence their voting behavior in the upcoming US elections.
Carried out online by The Harris Poll between April 30 and May 2 among 1,768 adults planning to vote in the 2024 presidential election, the survey indicates a significant shift toward cryptocurrency interest driven by the current economic climate.
Two-fifths (41 percent) of likely voters are paying closer attention to Bitcoin and other crypto assets amid geopolitical tensions, inflation, and a weakening US dollar, up from 34 percent in the first survey phase conducted in November 2023. Additionally, 47 percent of respondents now expect some portion of their investment portfolio to include crypto, compared to 40 percent last year.
“This is a timely survey given the latest developments related to crypto policy on the Hill. Likely American voters from across the political spectrum indicate a heightened interest in investing in crypto assets and in supporting candidates well-versed in the emerging technologies,” Zach Pandl, Grayscale’s head of research, said in a statement.
Last week proved pivotal for the crypto industry, with the bipartisan passing of the FIT21 Act in the House on Wednesday and the SEC’s Thursday decision to allow US exchanges to list spot ether ETFs.
Grayscale’s latest survey also highlights that crypto is not viewed as a partisan issue. According to the survey, 64 percent of Democrat would-be voters believe their party supports crypto investing, while 67 percent of Republicans feel the same about their party. Meanwhile, more than half of independent voters, 51 percent, are unsure.
The survey also points to a public desire for regulatory clarity. A mild 52 percent majority of respondents expressed that they would invest in crypto if clearer policies or regulations were in place, more than in the November phase of the study. A stronger four-fifths majority, 79 percent, agreed that political leaders should create frameworks and rules to ensure financial inclusion and investor protection.
“Aligned with recent votes in the House and Senate, this data reinforces that crypto has become a bipartisan issue that neither party can afford to overlook,” Pandl said.
Compared to last year, a higher percentage of voters, 53 percent, now say they are more likely to support a candidate who understands crypto. Furthermore, 77 percent of voters believe presidential candidates should have an informed perspective on innovative technologies such as artificial intelligence and crypto.
The SEC’s January approval of spot bitcoin ETFs has also sparked increased voter interest, with nearly 30 percent of Americans reporting it made them more interested in investing in Bitcoin or other crypto assets.
The survey also revealed high awareness of Bitcoin and Ethereum among likely American voters. While a near-universal 98 percent are aware of Bitcoin, just over half, 54 percent, are familiar with Ethereum.
Additionally, younger generations show an increased openness to crypto, as Gen Z and millennials led the 32 percent of voters saying they’re more open to either investing or learning more about the alternative asset class.
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