Cryptocurrency adoption in the U.S. is reportedly enjoying a cautious recovery.
That’s according to a report Monday (April 20) by CoinDesk, citing a survey by Deutsche Bank showing that U.S. participation rose among retail users from 7% to 12% between February and March. Adoption has not exceeded 14% since the bank began conducting the survey in 2023.
The survey also found a resurge in bitcoin exchange-traded funds (ETFs) last month, pulling in around $1.3 billion in net inflows. The bank characterized this as a sign of renewed institutional demand following a weak start to the year.
“After steadily declining since July 2025, U.S. crypto adoption rates recovered in March,” wrote analysts Marion Laboure and Camilla Siazon in the bank’s report.
Crypto prices have been stabilizing following a tempestuous start to the year, with bitcoin up 9% in March, though it is still down more than 20% year-to-date and far below its late-2025 record of more than $120,000.
The survey showed an uneven recovery, with prices repeatedly trying to push above the mid-$70,000 range, with analysts seeing that level as a crucial breakout threshold. Still, factors like higher interest rates and inflation driven by energy prices are weighing on the crypto market, the report added.
In other crypto-related news, PYMNTS wrote last month about findings from PYMNTS Intelligence, as part of the Certainty Project, that show that cryptocurrencies and stablecoins occupy an unusual position within the business world.
“They are visible across the financial ecosystem, discussed in boardrooms and tested by banks and payment providers, but they have not become part of the operational fabric that governs how firms move, manage and safeguard cash,” that report said.
Among the primary findings in the report is a gulf between awareness and use. Just 13% of middle market firms reported using stablecoins, while only 5% use cryptocurrencies. Interest has not shown any meaningful acceleration, and in many cases has weakened over the last year as companies rethink their priorities.
“Even among those that have adopted digital assets, usage remains tightly bounded,” the report added. “Stablecoins are most often used for specific payment functions, such as paying domestic suppliers or receiving cross-border funds. Cryptocurrencies are even less embedded, with usage largely confined to isolated transactions rather than recurring workflows.”
