It’s not just Bitcoin. Three in four (75%) crypto investors using the platform Alto CryptoIRA report that they have invested in two or more crypto assets, according to new research released on March 27.
“We estimate over 85% of Americans that are invested in crypto are not leveraging the benefits of investing through their retirement account.”
Eric Satz, Alto CEO and Founder
In 2024, Alto’s user base of 29,000 self-directed IRA investors made over 240,000 crypto trades with more than $900M in crypto assets on the platform. Alto said proprietary data from its platform underscores the confidence in crypto investments as part of a self-directed IRA and the overall growth in crypto portfolio diversification.
At Alto, for those whose first investment was in Bitcoin, nearly two-thirds (62%) invested in other tokens, signaling growing comfort in this asset class. Half (51%) of crypto investors chose an altcoin as their first investment on the platform.
“Our data finds that after their first crypto investment through their IRA, investors are eager to engage in additional crypto asset allocations,” said Eric Satz, Alto CEO and Founder. “This is an exciting trend, given that we estimate over 85% of Americans that are invested in crypto are not leveraging the benefits of investing through their retirement account. We want more people to be aware of the tax and long-term benefits of investing specifically through an IRA, and we are proud to be at the forefront of empowering investors with the opportunity to make strategic crypto investments that could help them build more diversified retirement portfolios.”
Alto added in its recent press release that this growing enthusiasm in crypto investing is supported by findings from Morningstar, which highlight that crypto investors are highly engaged, checking their investments twice as frequently as those without exposure to cryptocurrency in their portfolios.
Nashville, Tenn.-based Alto acts as the IRA custodian for over $1.7B in assets. Users can establish Traditional, Roth, or SEP IRAs to seamlessly invest in private markets and cryptocurrency.
Also this week, Fidelity Investments introduced “Fidelity Crypto for IRAs” that allows U.S. adults to invest in Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) in a tax-advantaged Roth, traditional or rollover individual retirement account. Read more here.
SEE ALSO:
• Fidelity Rolls Out New Crypto IRA
• Growing Number of Advisors Now Recommend Crypto
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
