Definition
An asset class is a broad group of investments that share economic characteristics, market behavior, and often similar legal or risk features.
In market context
Stocks, cash instruments, commodities, foreign currencies, and cryptoassets are examples of categories that may be treated as distinct asset classes. Instruments inside one class can still differ substantially in liquidity, volatility, issuer quality, custody, and regulation. Classifying an instrument helps organize a portfolio and compare exposures, but the label alone does not establish suitability or predict how the instrument will perform.
Source
Use the primary source for fuller regulatory or market context.
