Bitcoin adoption rebounds in U.S.; consumers still prefer gold, stocks

A Deutsche Bank Research consumer survey indicates Bitcoin adoption in the United States recovered in March, rising from a February trough to about 12% as part of the bank's monthly dbDataInsights series.

The survey sampled 3,400 consumers across the U.S., U.K. and EU and Deutsche Bank noted that while crypto struggled through Q1 2026, March showed some recovery supported by strong U.S. ETF inflows and limited retail re-engagement. Regional adoption stood at roughly 12% in the U.S., 9% in the U.K. and 7% in Europe according to the report.

Respondents still expressed a preference for traditional hedges and broad equity exposure when allocating new funds: gold led in the EU (37%) and U.K. (35%), while U.S. consumers split interest among the S&P 500 (29%), gold (26%) and Bitcoin (24%). Within crypto holders, Bitcoin retained a dominant share relative to other digital assets. These findings were highlighted in Deutsche Bank's note and in market reporting.

From a market perspective, the March rebound coincided with a modest Bitcoin price recovery and roughly $1.3 billion of inflows into institutional Bitcoin ETFs during the month, which helped provide temporary support; nonetheless, overall consumer sentiment toward Bitcoin’s near-term price remained cautious in the survey. Such flows underscore the growing role of institutional products in price discovery even as retail interest lags.

In the broader economic context, Deutsche Bank points to macro and geopolitical shocks, monetary policy conditions and the regulatory landscape as key factors shaping retail adoption trends. Analysts say institutional demand and ETF access could sustain demand for Bitcoin, but persistent consumer preference for gold and equities may cap rapid retail-driven growth; near-term outlook hinges on ETF flows, macro data and regulatory clarity.