A recent survey by Bitpanda shows that a significant 23% of the Swiss population owns crypto.
In partnership with YouGov Deutschland GmbH, Bitpanda surveyed more than 6,000 Europeans from Germany, France, Switzerland, Austria and Italy to study crypto trends.
Switzerland has emerged as one of the most crypto-friendly nations globally, with a substantial portion of its population actively participating in the digital currency ecosystem.
“In our research, we wanted to better understand how these factors are changing,” said Bitpanda. “Switzerland was the most crypto-friendly country, with almost a quarter (23%) of the total population already owning cryptocurrencies.”
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Millennials And Gen Z Embrace Crypto
The survey found that younger generations across five countries are driving the market, a trend which can also be seen in the country-specific data:
- Switzerland: 32% of Millennials and 29% of Gen Z own crypto.
- Austria: 28% of Millennials and 21% of Gen Z own crypto.
- France: 23% of Millennials and 22% of Gen Z own crypto.
- Germany: 22% of Millennials and 12% of Gen Z own crypto.
- Italy: 16% of Millennials and 13% of Gen Z own crypto
The world's crypto geography presents an intriguing paradox
The world's largest blockchain protocols and foundations are clustered in developed crypto hubs, with 🇨🇭 Switzerland leading the pack:
🇨🇭 Switzerland
🇸🇬 Singapore
🇺🇸 United StatesWhy?
Regulatory clarity… pic.twitter.com/S5gJEoiaoI
— arndxt (@arndxt_xo) July 14, 2024
Men More Likely To Invest In Crypto
Men are significantly more likely to invest in digital assets, with 21% of men compared to just 8% of women owning cryptocurrencies. This disparity extends to other asset classes, with men consistently outpacing women in investment activities.
Read more: Gen Z And Millennials Lead Crypto Adoption In Europe
- Individual shares: 28% of men vs. 13% of women
- Cryptocurrencies: 21% of men vs. 8% of women
- Precious metals: 20% of men vs. 10% of women
- ETFs: 20% of men vs. 8% of women
- Commodities: 9% of men vs. 3% of women
Switzerland’s Traditional Banks Embrace Bitcoin
UBS, the largest Swiss banking institution, officially acquired Bitcoin Exchange-Traded Funds (ETFs), including cryptocurrency in traditional finance.
The bank invested in a number of BTC ETF offerings and now owns iShares Bitcoin Trust (IBIT), a Bitcoin spot ETF run by BlackRock’s subsidiary, iShares.
This development was revealed in the bank’s updated Form 13F-HR, which details the assets held by UBS as of 31 March 2024, submitted to the US Securities and Exchange Commission (SEC).
Read more: Largest Swiss Bank UBS Embraces Bitcoin, Institution Acquires BTC ETF
Switzerland’s Cryptocurrency Asset Reporting Framework
On 15 May 2024, Switzerland issued a report expressing interest in implementing the Cryptocurrency Asset Reporting Framework (CARF) – designed to provide clear guidelines for both individual investors and businesses dealing in crypto.
The CARF outlines the procedures for reporting various types of crypto transactions, including trading gains, mining income and token staking rewards.
One of the key features of this framework is the emphasis on simplifying the reporting process. It makes crypto more accessible to the average crypto user.
Read more: Switzerland Considers Implementing Global Crypto Reporting Framework To Aid Transparency
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
