Charles Schwab survey: 64% of Millennial crypto owners plan to buy more
Schwab's 2026 Modern Wealth Survey finds crypto outranks ETFs, stocks and bonds on Millennial shopping lists
One of the oldest names in American brokerage just asked Millennials what they want to buy next. The answer was not index funds.
According to Charles Schwab’s 2026 Modern Wealth Survey, 64% of Millennials who already own crypto plan to increase their holdings over the next year. That puts digital assets ahead of every traditional asset class on the list.
What the Schwab survey found
The survey was released on or around October 7. It polled 2,000 Americans aged 21 to 75 between August 24 and September 17, 2026.
The headline finding comes from Millennials who already hold crypto. Among that group, 64% said they intend to add more over the coming 12 months.
Crypto topped the list of asset classes Millennials plan to buy. ETFs came in second at 56%, followed by stocks at 52%.
Bonds trailed at 42%. Mutual funds landed last at 41%.
The survey also measured current ownership across generations. A third of Millennials, 33%, currently own crypto.
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Gen Z came in at 22%. Baby Boomers sat at just 8%.
One more finding stood out. Among Americans familiar with crypto, more than 40% expressed interest in owning Bitcoin or Ethereum directly.
That distinction matters. Direct ownership means holding the actual coins, rather than buying a fund or product that tracks their price.
The generational divide keeps widening
This is not the first time Schwab has flagged the trend. The firm’s previous research pointed to rising interest among younger investors in gaining crypto exposure through ETFs.
The new data suggests a chunk of that audience may now want to skip the wrapper entirely. Over 40% of crypto-aware Americans showing interest in owning Bitcoin or Ethereum directly is a sign that comfort levels are rising.
What this means for investors and the industry
Start with a caveat. The 64% figure measures intentions, not transactions.
It is also worth noting who was asked. The 64% comes from Millennials who already own crypto, a group that has, by definition, already decided the asset class deserves a place in their portfolio.
Even among investors with options, crypto outranked ETFs, stocks, bonds and mutual funds as the place to add money next.
The Gen Z figure deserves watching too. At 22%, Gen Z ownership trails Millennials meaningfully, which complicates the simple story that each younger cohort will be more crypto-heavy than the last.