As per a research which was conducted in November 2022 by the Australian Securities Exchange (ASX), approximately one third of all young investors in Australia have either owned or traded crypto in the past year, even if they are aware of being more “risk averse” than the older generations of investors.
Crypto Adoption Rate Increases in Australia
The ASX study which was based on an in-depth online survey of 5,519 Australian adults, revealed that 31% of “next generation investors” had significant cryptocurrency investments contrary to 46% of them who indicated that they were choosing “stable returns.”
The majority of cryptocurrencies were owned by people in Australia between the ages of 25 and 49, who also represented 69% of all investments in digital assets. Just 19% of all cryptocurrency owners were investors aged 50 and above.
10% of Current Investors are Aged 18-24
According to the report: ”Nearly 10% of current investors fall into the next generation demographic, aged 18-24. Of these, 63% have only started investing in the last two years. While 43% of this cohort hold Australian shares, this is considerably less than the broader investor population who have 58% of their portfolio in domestic shares.”
“Next Generation” Hold Crypto on Average for $2,700
In addition, “next generation” investors in Australia are reported to hold cryptocurrencies on average for $2,700, which amounts to 6% of their whole portfolio and is twice the average allocation of 3% for the rest of the investor generations. According to this report, 20% of investors, up from 15% in 2020, are taking note of Exchange Traded Funds’ (ETFs’) efficiency.
Bitcoin ATM Installation Surges in Australia
In the previous two years, the majority of new investors who started investing in assets or financial products outside of their personal residence or non-SMSF superannuation just opted for shares in an Australia-listed firm as their initial investment.
In terms of the total number of deployed Bitcoin (BTC) ATMs, Australia has the third-largest system in the world, overtaking Asia in April. The Australian government has said that this year it will work on plans to establish a regulatory framework that would monitor the operations of service providers of digital assets in addition to installing cryptocurrency ATMs.