Majority of asset management app downloads are now crypto apps

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In the first half of 2021, the majority of asset management app downloads were crypto apps, at 51% of the top 50 most downloaded asset management apps. Meanwhile, major stock trading apps fell to 43% in the first half of 2021.

Stock trading apps have historically occupied the lion’s share of U.S. market installations in the top 50 asset management applications, consistently between 68% and 71% of all installations, reports SensorTower, a company of market intelligence for global applications.

But growing interest in cryptocurrencies like Bitcoin has propelled crypto apps to the top of the list. The high volatility of the crypto space and the introduction of large institutions into the crypto arena has attracted a growing number of speculative investors.

The Covid-19 pandemic has seen both a major stock market crash, pushing many stocks to historic lows, as well as an increase in the number of people confined to their homes with more time to explore crypto investments. The two have combined to increase downloads of crypto apps.

Crypto apps are a great tool for many retail investors as they often come with their own portfolio management tools. They can also make it easier to buy digital assets and consolidate portfolio. Stock apps are also popular as some offer commission-free services.

While no regulations are on the horizon for the crypto asset space in the United States, demand is expected to continue to grow.

See also: SEC does not plan to influence crypto regulation in 2021

Overall, on Android and iOS operating systems between Q2 2020 and Q2 2021, quarterly downloads of the top 50 asset management apps in the US increased 152%, Finbold reports.

The second quarter of 2021 saw 18 million downloads of asset management apps from the Apple App Store and 15 million downloads from the Android Google Play Store.

For more news, information, and strategy, visit Crypto Channel.

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