Retail and institutional investors are aligning on a promising investment area for 2026, with both groups expressing newfound confidence in fintech stocks. A recent survey by Mizuho, which gathered insights from 300 retail investors and 45 institutional investors, revealed a notable shift in sentiment towards fintech, despite a decline in enthusiasm for cryptocurrency stocks.
The 2025 performance of bitcoin and the broader cryptocurrency market has left investors feeling uncertain. Bitcoin ended the year down over 6%, contributing to a growing skepticism about the future of crypto stocks. While both retail and institutional investors remain slightly bullish on crypto, there’s a discernible lack of clarity regarding its direction. Notably, institutional investors exhibit a more pronounced bullish attitude than their retail counterparts.
Mizuho analyst Dan Dolev highlighted a significant preference for fintech, indicating that investors are increasingly viewing this sector as more attractive compared to last year. Retail investors rate fintech stocks at a 3.1 times higher preference, while institutional investors rate them at 2.7 times. This enthusiasm appears particularly focused on the consumer lending segment, with companies like SoFi Technologies, Affirm Holdings, and Upstart capturing investor interest.
In addition to consumer lending, retail investors are keen on payment and checkout solutions such as PayPal, whereas institutional investors show a strong preference for established payment networks like Visa and Mastercard. However, the sentiment surrounding crypto treasury companies remains bearish among institutional investors, many of whom are wary of the struggles faced by these entities in the current market climate. Notably, the stock of Strategy, a leading player in digital asset treasury management, has experienced a drastic 50% decline over the past year.
The survey findings further illustrate a divide among investors concerning exchange platform stocks like Coinbase, Robinhood, and eToro. Retail investor sentiment appears conflicted, with some regarding these exchanges as both favorable and unfavorable, reflected in a nearly equal split: 19% deeming them the best and 16% the worst.
Despite the uncertainties surrounding cryptocurrency, both retail and institutional investors generally maintain a positive outlook for 2026, with 53% and 58% respectively anticipating an improved year compared to 2025. However, the lack of consensus on the trajectory of crypto investments continues to pose a challenge for both groups.
