JPMorgan Chase Report: Nearly 15% of U.S. Individuals Have Transferred Assets to Crypto Accounts by Mid-2022

Foresight News, JPMorgan released a report on the dynamics and demographics of U.S. households using encrypted assets. The report pointed out that during the COVID-19 pandemic, U.S. households’ participation in encrypted assets has risen sharply, while personal cryptocurrency ownership has also increased significantly. rise. By mid-2022, nearly 15% of individuals will transfer assets to encrypted accounts. Still, most hold only a small amount of cryptocurrency, as the median inflow equals less than a week’s take-home pay, yet nearly 15% of users net-transfer more than one month’s salary into crypto accounts. Additionally, participation in cryptocurrencies is deeper among men, Asians, and higher-income youth. The trend has potential implications for the health of household balance sheets, given market volatility and uncertainty over how crypto-asset usage may evolve, JPMorgan said. The de-identified data used in this report covers a sample of nearly 5 million active checking account customers, over 600,000 of whom have made transfers to crypto accounts.