Morgan Stanley's latest survey of summer interns reveals persistent skepticism toward cryptocurrency among future finance professionals, even as Bitcoin reached the landmark $100,000 price level. The investment bank polled over 500 North American interns from June 10-27 and 147 European interns from June 26 to July 7, finding that only 18% currently own or use digital assets.
What to Know:
- Only 18% of Morgan Stanley interns own cryptocurrencies, up from 13% last year, while 55% remain uninterested in digital assets
- Nearly all interns (96% in US, 91% in Europe) use artificial intelligence tools regularly, viewing them as time-saving and effective
- Over 60% of interns want home humanoid robots, with Morgan Stanley projecting the market could exceed $5 trillion by 2050
Digital Assets Struggle for Relevance
The survey data underscores a generational divide in financial technology adoption. Interest in digital assets among interns climbed modestly from 23% to 26%, yet a clear majority of 55% expressed no interest whatsoever. This figure represents a decline from 63% the previous year, suggesting gradual warming rather than enthusiastic embrace.
The tepid response appears particularly striking given Bitcoin's institutional acceptance through exchange-traded funds. Spot Bitcoin ETFs have accumulated $53.7 billion in assets since launching in January 2024, according to Farside Investors data. Ether ETFs have drawn $12.4 billion in inflows.
Corporate treasuries increasingly hold both assets on their balance sheets. Bitcoin crossed the $100,000 threshold this year while establishing itself in institutional portfolios. Ethereum reached a record high exceeding $4,800 on Friday.
The disconnect between market performance and intern sentiment reflects broader questions about cryptocurrency's long-term adoption trajectory. Despite significant institutional investment and regulatory progress, the technology has yet to capture widespread enthusiasm among emerging finance professionals.
Artificial Intelligence Dominates Technology Preferences
The survey revealed overwhelming adoption of artificial intelligence tools among future Wall Street workers. Nearly all U.S. interns (96%) and European counterparts (91%) reported using AI technology at least occasionally in their daily work.
Respondents expressed strong positive sentiment about AI capabilities. Nearly universal agreement emerged that these tools "save time" and remain "easy to use" in professional settings.
However, 88% maintained a nuanced perspective, acknowledging that current AI systems "need accuracy improvement."
This widespread acceptance aligns with broader Wall Street trends. The so-called "Magnificent Seven" technology companies are projected to spend $650 billion on capital expenditures and research development this year. Financial firms increasingly integrate AI into trading algorithms, risk management systems, and client service operations.
The enthusiasm for AI contrasts sharply with crypto skepticism among the same demographic. While digital assets struggle for mainstream acceptance, artificial intelligence has achieved near-universal adoption among these future finance leaders.
Humanoid Robotics Captures Imagination Despite Social Concerns
The survey uncovered significant interest in humanoid robotics among interns, though tempered by concerns about societal impact. Over 60% of U.S. respondents and 69% of Europeans expressed interest in owning home humanoid robots.
Both regional groups believe these sophisticated machines will develop "viable use cases" and eventually replace many human jobs. Yet optimism about broader social benefits remains limited, with only 36% of American interns and 24% of Europeans agreeing that humanoids will positively impact society.
Morgan Stanley projects the humanoid market could exceed $5 trillion by 2050, encompassing sales plus supply chains for repair, maintenance, and support services.
The investment bank estimates more than 1 billion humanoids could exist by mid-century, with 90% serving industrial and commercial purposes.
This projection, outlined in a May report, suggests robotics may represent a more compelling investment opportunity than cryptocurrency for the next generation of finance professionals. The survey data supports this thesis, showing clear preference for tangible automation over digital assets.
Understanding Key Financial Technologies
Several financial technologies emerged prominently in the survey results. Exchange-traded funds represent investment vehicles that trade on stock exchanges like individual stocks while tracking underlying assets or indices. Spot Bitcoin ETFs specifically hold actual Bitcoin rather than derivatives, providing direct exposure to cryptocurrency price movements.
Digital assets encompass cryptocurrencies like Bitcoin and Ether plus related blockchain-based technologies. Bitcoin operates as a decentralized digital currency, while Ether serves as the native token for the Ethereum blockchain platform. Both have gained institutional acceptance through regulated investment products.
Artificial intelligence in finance typically involves machine learning algorithms that analyze data patterns, execute trades, or assess risk. Humanoid robotics refers to machines designed with human-like appearance and capabilities, potentially suitable for both industrial applications and personal assistance roles.
Market Implications and Future Outlook
The survey results suggest cryptocurrency faces continued headwinds in achieving mainstream adoption among finance professionals. Despite institutional investment growth and regulatory progress, skepticism persists among those entering the industry. The "we are still early" sentiment popular in crypto communities appears validated by this demographic data.
Conversely, artificial intelligence and robotics technologies show strong acceptance rates and growth projections. These sectors may attract greater investment flows as young professionals assume leadership positions in financial institutions. The stark preference differences could influence capital allocation decisions over the coming decade.
Morgan Stanley's findings indicate that technological adoption patterns among finance workers may not align with market valuations or media attention.
While Bitcoin commands headlines with six-figure prices, the industry's future leaders demonstrate greater enthusiasm for AI and robotics applications.
Closing Thoughts
Morgan Stanley's intern survey reveals a complex technology adoption landscape among future finance professionals. While cryptocurrency ownership remains limited at 18%, artificial intelligence has achieved near-universal acceptance at 96% usage rates. The disconnect between Bitcoin's $100,000 milestone and tepid intern enthusiasm suggests digital assets face ongoing adoption challenges despite institutional progress.