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Deutsche Bank: U.S. Crypto Adoption Rebounds as ETF Inflows Signal Institutional Return
- Deutsche Bank survey data showed U.S. crypto adoption recovered to 12% in March after falling to 7% in February.
- Spot Bitcoin ETFs recorded US$1.32 billion in March inflows, their first positive month of 2026.
- Bitcoin remained dominant in the survey, though respondents stayed cautious about its 2026 price outlook.
Deutsche Bank survey data showed US crypto adoption rebounded to 12% in March after a February dip, as renewed spot Bitcoin ETF inflows and stabilising prices pointed to a cautious return of market confidence.
Analysts Marion Laboure and Camilla Siazon wrote that US crypto adoption rates recovered in March after steadily declining since July 2025. The survey covered 3,400 consumers across the US, UK and EU, with US adoption rising from 7% in February to 12% in March.
In tandem, there’s stronger institutional demand for Bitcoin exposure, according to SoSoValue. The data shows US spot Bitcoin ETFs recorded US$1.32 billion (AU$1.85 billion) of net inflows in March, their first positive monthly result in 2026 and their first monthly inflow since October 2025.
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Caution Ahead
Deutsche Bank’s survey still showed Bitcoin in the lead among crypto assets. That dominance is consistent with ETF flows, where institutional products remain concentrated on Bitcoin rather than broader tokens.
But the rebound didn’t magically turn everyone bullish, as the survey responses cited in the report showed many participants expected Bitcoin to finish 2026 below then-current levels near US$75,000 (AU$105K), including 19% of U.S. respondents who expected a range between US$20,000 (AU$28,000) and US$60,000 (AU$84,000).
Another 13% of U.S. respondents expected Bitcoin to fall below US$20,000 (AU$28,000), underlining how fragile sentiment remains despite March’s recovery. Deutsche Bank also found adoption still concentrated among men and higher-income groups, although interest among women and lower-income users was reported to be improving.
The data suggests crypto adoption is recovering, but not yet accelerating into a broad retail boom. ETF flows show professional capital has returned first, while household participation appears more selective and still heavily tied to Bitcoin’s price stability.
Read more: Charles Schwab Enters Crypto Trading With Bitcoin and Ether Rollout
Author
José Oramas
José is a journalist and translator with a keen interest in blockchain and cryptocurrencies.
