American investors continue to hold cryptocurrencies at the same rate as three years ago, but their willingness to buy more is falling sharply. According to a new FINRA study, interest in entering crypto or expanding existing positions has dropped to its lowest level since the pandemic. As economic uncertainty grows, investors are shifting toward safer assets and rethinking their relationship with risk.

Share of crypto investors remains steady but buying interest declines

FINRA reports that the percentage of Americans holding cryptocurrencies has stayed stable at 27 % between 2021 and 2024. Beneath the surface, however, risk appetite is shrinking.
In 2021, 33 % of respondents were considering entering crypto or expanding their holdings; this year, only 26 % say the same. High-risk tolerance investors fell from 12 % to 8 %, with the steepest decline seen among people under 35 — from 24 % to 15 %.

Economic uncertainty pushes investors toward safer assets

The crypto market often thrives during periods of optimism. But the U.S. economy now faces a mix of inflation concerns, interest-rate volatility, and broader uncertainty. As a result, many investors prefer traditional and safer assets such as bonds or index funds.

FINRA conducted the study between July and December 2024, surveying more than 2,800 investors and over 25,000 adults.

Crypto is risky — but still seen as necessary

While 66 % of respondents consider cryptocurrencies a risky investment (up from 58 % in 2021), many also believe that ambitious financial goals require taking meaningful risks.
One-third of investors say achieving their financial plans will require substantial risk-taking. Among people under 35, that share climbs to 50 %. FINRA also highlights the rise of “viral” investments: 13 % of investors — including nearly one-third of people under 25 — have purchased meme stocks or other trending instruments.

Fewer new investors are entering the market

The pandemic-era boom is fading. Only 8 % of investors entered the market in the past two years, compared with 21 % in 2021.
“The influx of young investors who entered the market during the pandemic has reversed. The share of Americans under 35 who invest is returning to 2018 levels,” FINRA reports.

According to the regulator, the findings indicate a cautious shift in attitudes and behavior. For crypto projects and exchanges, this means one thing: success will require more than promises of quick wealth — trust, education, and real-world utility.

Sources:

https://www.finra.org/media-center/newsreleases/2025/new-finra-foundation-research-examines-shifting-investor-behaviors

https://cointelegraph.com/news/us-investors-crypto-interest-decline-finra-study