Investors are still intrigued by the possibilities of cryptocurrency in spite of—or maybe because of—the volatility the asset has been experiencing, according to Andrew Guillette, vice president of America Insights at Broadridge Financial Solutions.

”I think crypto’s extreme volatility is part of its allure. There’s a certain mystique to it,” Guillette said in an email. “It’s still relatively new [and] everyone from asset management firms and wealth managers down to financial advisors and end-retail investors are not only trying to sort out their position on it, but [also] whether and how to participate.”

A study by Broadridge, a financial services and technology company based in Lake Success, N.Y., of 1,000 U.S. investors released today, showed that nearly half of investors are either considering investing in digital currencies or already have made investments.

Interest is growing, although slowly, among younger investors in particular, according to the study. “As younger investors increasingly look for creative ways to find returns, interest in cryptocurrency is up slightly among millennials, from 73% who were interested in May 2021 to 75% last November, before this week’s extreme dips.

Digital currency is emerging as a currency, as well as an investment, and continues to spark curiosity, he said.

“Crypto has all the elements of a hit Hollywood movie, with lots of stories of fortunes made and passwords lost so it’s not surprising that interest remains high. I can’t think of another investment with the same level of accessibility that’s more discussed in social circles across generational and wealth segments,” Guillette said,

Advisors who do not discuss digital currency with their clients are missing a way to reach clients, he said.

“Advisors might be missing opportunities to connect with clients on crypto,” Guillette said. Of those individuals who have a relationship with a financial advisor, just 21% said that they have discussed crypto with their advisor, while 30% reported they have not but would like to have a discussion, the study said.

“While younger generations are much more likely to have considered or be invested in crypto, interest is increasing across older generations as well,” Guillette said.

The study also delved into interest levels surrounding ESG investing and showed that investments in ESG remain low despite investors’ growing interest in responsible investing.

“More than half (54%) of investors who are aware of ESG are interested in discussing the asset class with their advisor, yet only 17% of investors have discussed the ESG with their advisor and 60% of investors report that they initially raised the topic. The study findings “highlight the opportunity for financial advisors to educate investors on ESG and cryptocurrency given the popularity of the asset classes,” the study said.