Cryptocurrency and NFTs received plenty of buzz in the first half of this year even as "meme stocks" sent droves to investment apps such as Robinhood. Sensor Tower's latest report, available now, analyzes how mobile apps of this type performed after an unprecedented first half. The State of Asset Management Apps Report includes deep dives into subcategories such as Crypto Exchange and Crypto Wallet, along with Stock Trading, Advisory, and FOREX.
Asset management apps saw record installs in the United States in Q1 2021, rocketing up 198 percent quarter-over-quarter and exceeding 35 million downloads. Although there was a slight dip in Q2, installs of the top 50 apps of this category remained elevated. U.S. adoption of these top apps climbed 152 percent year-over-year and surpassed 33 million installs in Q2 2021.
While the category saw a surge in interest in 2020, the 152 percent Y/Y growth experienced last quarter outpaced that seen by the top apps in the year-ago period. In Q2 2020, the top asset management apps reached approximately 13 million installs from U.S. marketplaces, which was 120 percent Y/Y growth from 6 million in Q2 2019.
From 2018 through 2020, the stock trading apps consistently held the highest market share of U.S. installs among the top 50 asset management apps. However, in the first half of 2021, a surge of consumer interest in crypto propelled it to seize the majority of adoption. In the first six months of the year, crypto represented 51 percent of downloads of the top asset management apps.
The top stock trading apps previously maintained its market share of installs at around 68 to 71 percent. In 1H 2021, this share fell to 43 percent.
The monthly active users of the top 20 stock trading apps have climbed steadily in the last four years—and the average user age has conversely dropped. Since Q1 2017, the top apps' monthly active users climbed 600 percent as of 1Q21. The average user age also declined to 30.6 years from 34.5 over this period.
For more analysis from the Sensor Tower Store Intelligence platform, including key insights on the performance of top asset management apps in the U.S., download the complete report in PDF form below:
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