Gen Z Overtakes Millennials as India’s Leading Crypto Investors

• India’s cryptocurrency market is witnessing a generational shift, with Gen Z (aged 18–25) emerging as the country’s largest group of crypto investors for the first time. According to CoinSwitch’s “India’s Crypto Portfolio: How India Invests (Q3 2025)” report, young investors are driving the next phase of digital asset adoption across India, indicating increasing financial awareness and confidence in decentralized investments.

Gen Z Takes the Lead in Crypto Adoption

• The report reveals that Gen Z investors now account for 37.6% of total crypto users on CoinSwitch, slightly ahead of Millennials (26–35 years) at 37.3% , while the 36–45 age group makes up 17.8% . This change underscores how younger Indians view cryptocurrencies as credible investment options rather than risky bets. Improved digital literacy, easy access to trading platforms, and social media-driven financial education have contributed to this demographic dominance.

Regional Trends: Metros Lead, Tier-2 Cities Rise

• Delhi remains India’s top crypto hub with 19.3% participation, followed by Bengaluru (8.9%) and Mumbai (7.0%) . However, Tier-2 cities such as Jaipur, Lucknow, and Patna are showing rapid growth, signaling expanding financial inclusion beyond metros. This diversification suggests that crypto investing is becoming mainstream, supported by regional awareness and growing trust in regulated exchanges.

Investment and Trading Patterns

• Investor preferences lean toward stable and established assets. Bitcoin remains the most held cryptocurrency with 7.2% of portfolios, followed by Dogecoin (6.1%) and Ethereum (4.9%) . Seven of the top ten tokens are large-cap assets, indicating a long-term and risk-aware approach among Indian users. Ethereum led trading volumes at 8.9% , ahead of Ripple and Bitcoin (7.6% each) . July 2025 saw peak activity, coinciding with Bitcoin price rallies and major U.S. regulatory updates.

Regional Profitability Insights

• City-level data shows unique investment behaviors. Mumbai leads in blue-chip holdings (37.4%), Hyderabad in large-cap assets (37.3%), Patna in mid-cap exposure (42%), and Jaipur in small-cap investments (9.4%). Kolkata recorded the highest profitability with 77% of portfolios in profit, followed by Delhi-NCR (65%) .

Key Facts for Exams:

• Report: CoinSwitch Q3 2025 – India’s Crypto Portfolio

• Gen Z investors: 37.6% (highest share)

• Delhi’s participation: 19.3%

• Most held asset: Bitcoin (7.2%)

• Highest trading volume: Ethereum (8.9%)

• Period: Q3 2025