Gen Z Surges Ahead: Now India's Top Crypto Investors, Outpacing Millennials

CoinSwitch's Q3 2025 report, "India’s Crypto Portfolio: How India Invests," shows a significant shift in India's cryptocurrency investment landscape, with Generation Z (18-25 years old) now leading, comprising 37.6% of the platform's user base, narrowly surpassing millennials (26-35 years old) at 37.3%. This data, drawn from over 2.5 crore users on CoinSwitch, India's largest crypto trading platform, points towards a maturing Indian crypto market.

Metropolitan cities like Delhi, Bengaluru, and Mumbai continue to dominate participation. However, Tier-2 cities such as Jaipur, Lucknow, and Patna are emerging as important markets, indicating a wider geographic spread of crypto adoption. Portfolio trends highlight a preference for established digital assets, with Bitcoin, Dogecoin, and Ethereum being the most held tokens. Seven out of the top ten most popular coins are large-cap assets, suggesting a move towards long-term, utility-driven holdings over speculative bets.

Balaji Srihari, Vice President of CoinSwitch, noted that these insights reflect a growing retail investor base and a more mature market, with financial empowerment extending beyond major cities. Trading volumes show higher activity for Ethereum, Ripple, and Bitcoin, particularly around periods of market highs.

Impact: This demographic shift signifies a growing interest and financial literacy among younger Indians in alternative investment classes like cryptocurrency. The expansion into Tier-2 cities indicates broader digital adoption and economic empowerment. This trend suggests continued growth and diversification within India's digital asset market, potentially influencing fintech innovation and regulatory discussions.

Impact Rating: 7/10

Glossary: Generation Z (Gen Z): Individuals born roughly between the mid-1990s and early 2010s. Millennials: Individuals born roughly between the early 1980s and mid-1990s. Large-Cap Assets: Refers to cryptocurrencies with a very high total market capitalization, generally considered more established and less volatile. Blue-Chip Assets: In this context, refers to the most established, reputable, and high-value cryptocurrencies. Mid-Cap: Cryptocurrencies with a medium market capitalization, falling between large-cap and small-cap. Small-Cap: Cryptocurrencies with a smaller market capitalization, often considered higher risk but with potential for greater growth. Bitcoin, Dogecoin, Ethereum, Ripple: Names of specific digital currencies or cryptocurrencies.