A recent study by Bakkt Holdings Inc (NYSE: BKKT) reveals that people’s interest in cryptocurrencies remains strong despite recent market fluctuations. The “Biannual US Crypto Consumer Sentiment Study” surveyed more than 2,000 Americans who own or are interested in cryptocurrency to understand their views, adoption, and concerns about regulations and consumer protection.

The study found that 84% of current cryptocurrency owners are still considering buying more digital currencies. However, among those who are curious about cryptocurrencies but have not yet invested, only 27% expressed interest, down from the previous survey conducted in October 2022.

Interestingly, respondents focused more on economic and financial events like inflation and banking problems than cryptocurrency-related news. However, the study revealed that 78% of the participants believe that cryptocurrencies are gaining popularity and will face increased regulation in the future. More than half (58%) also think that cryptocurrencies represent the next evolution in modern finance.

The research emphasizes the importance of regulatory clarity in driving further crypto adoption. Among those who have recently lost interest in cryptocurrencies, increased regulation was the main factor that reignited their curiosity. Both current cryptocurrency owners and the curious group express concerns about security and regulation when buying digital assets.

The study also highlights the role of fintech providers as a popular entry point for cryptocurrency investments. Users who primarily buy cryptocurrency through fintech platforms have fewer security and regulatory concerns compared to those who use traditional cryptocurrency exchanges. Trust is key, with Crypto Curious showing greater trust in fintech channels than traditional exchanges.

Building trust is crucial for new entrants to the cryptocurrency market. The study suggests that existing customer relationships may play a role in establishing trust. Respondents found channels like financial advisors, major banks or credit unions, favorite brand loyalty programs, and trusted fintech platforms to be the most trusted.

The study, conducted using quantilope’s insight automation platform, surveyed more than 2,000 US consumers in April 2023. It offers valuable insights into exploring and investing in cryptocurrencies over the past six months, following the crash from FTX.

Bakkt CEO Gavin Michael emphasized the study’s findings, highlighting the continued interest in cryptocurrencies and the need for regulatory clarity to drive adoption. He stressed the importance of partnering with secure crypto companies that prioritize compliance and regulatory standards.