The survey revealed that more than two thirds of U.S.-based investors are worried about recession and would consider converting part of their stock portfolios to safer investments or are considering hedging with cryptocurrencies, commodities or real estate. The survey took place from 18 to 31 July and involved 1,000 online investors in the United States. The respondents were aged between 20 and 65 years.

40% of the surveyed millennials (people born between the early 1980s and the mid-1990s) said that they would prefer to invest in cryptocurrencies in the event of recession, whereas 50% of Generation Z (people born between the mid-1990s and 2000) said they would choose real estate. 38% of Generation X (people born from between the mid-1960s and the late 1970s) said that they would prefer hedging with commodities.

Guy Hirsch, managing director of eToro U.S., said: “We believe that if a recession were to occur, we’d see shrinking stock portfolios and growth in other asset classes like crypto, as well as new fractional ownership models. Historically, these investment opportunities have been limited to high net worth and institutional investors, but innovation is unlocking these opportunities for everyday investors and clearly, these results indicate that the demand is there.”

A recession would supposedly fuel investors’ interest in fractional ownership and new asset classes, with 92% of those most concerned about a recession saying they would own even famous artworks, landmark buildings and private start-ups, among other types of investments. 55% of all respondents said that they would sell a portion of their stock portfolio to fund their investment in these new types of assets.

Investors generally demand more freedom than the current financial status quo allows, which could help to engage younger investors.