Cryptocurrency’s gender diversity problem drawing increased focus from Congress, others

Women also don’t invest in cryptocurrencies as much as men do, said Ms. Hume, who cited risk aversion as one reason.

“It’s been well established in research that women engage with investment risks differently than men,” Ms. Hume said. “And financial advisers, in particular, have observed that when investment risks are unknown, women are more likely to take money off the table and pass on the opportunity. And what we have with crypto is an asset class that, at this point, the risks are still mostly unknowns.”

According to a report released this year from Gemini Trust Co. LLC, a cryptocurrency exchange, 32% of crypto owners in the U.S. are female. Data released in February by eToro USA LLC, a trading platform for cryptocurrency and other exchanges, indicates that 41% of female investors in the U.S. have crypto holdings, and 41% plan to increase them.

Lule Demmissie, U.S. CEO of eToro based in New York, said while she thinks crypto has a “very diverse consumer base,” there needs to be an increase in the diversity of crypto creators.

“Unless any innovation has a diverse set of people creating it, by definition, it cannot become an equitable product over time,” Ms. Demmissie said.

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