Grayscale: The proportion of U.S. households' stock asset allocation has risen to 46.71%, and crypto assets offer diversification opportunities

Digital asset management company Grayscale stated that by the end of 2025, the proportion of company stocks held directly and indirectly by American households' financial assets will reach 46.71%, up from 43.99% a year ago. Grayscale's research director Zach Pandl pointed out that the increase in stock asset concentration and high valuations has enhanced the opportunity for cryptocurrency to be used for portfolio diversification.

Grayscale indicated that the long-term earnings growth expectation for the S&P 500 index rose to over 25% on August 28, significantly higher than the historical range concentrated between 10% and 15%. The agency believes that after the market adjustment, the valuation, leverage levels, and investors' long positions in cryptocurrency assets have all decreased.

Data released by Grayscale shows that the 90-day correlation between Bitcoin and the Nasdaq 100 index has dropped from over 60% to about 33%, while its correlation with gold has risen from nearly 0 to over 50%. Grayscale also noted that Bitcoin's historical volatility is higher than broad equity indexes and does not always serve as a safe-haven asset.