A survey conducted by Charles Schwab revealed that nearly half of Gen Z and Millennials want crypto investments as part of their retirement plans.
The online survey included 1,100 participants who have worked for a company with more than 25 employees and invested in Charles Schwab’s 401 (k) retirement plans.
The results disclosed that 47% of Millennials and 43% of Gen Z are already investing in crypto. Moreover, 46% of Gen Z and 45% of Millennials “wish” they could include crypto holdings in their 401 (k).
Meanwhile, 31% of Gen X and 11% of Boomers want crypto assets as part of their retirement funds. All generations consider inflation to be the top retirement obstacle.
The news came as the interest in crypto exposure for 401 (k)s is on the rise. Last month, US legislators introduced a bill to include crypto investments in retirement plans, with Senator Pat Toomey adding,
“With inflation at record highs, a stock market downturn, and a potential recession on the horizon, many Americans are rightfully concerned about their financial future.”
Currently, Charles Schwab allows users to invest in crypto via coin trusts, crypto-based ETFs and stocks, and Bitcoin futures. However, the asset manager does not support cryptocurrency deposits.
In April, Fidelity Investments announced its plans to launch a Digital Assets Account (DAA) for 23K clients. This custom-plan account will feature Bitcoin and short-term instruments.
