Gen Z tops India’s crypto investments, edges out millennials: CoinSwitch Q3 2025 Report
Synopsis
Gen Z investors aged 18–25 now dominate India’s crypto market with 37.6%, surpassing Millennials. CoinSwitch’s Q3 2025 report highlights rising Tier-2 participation and a shift towards long-term, utility-driven portfolios.
Gen Z aged between 18 to 25 now leads India’s crypto investor base for the first time with 37.6%, narrowly surpassing Millennials aged between 26 to 35 at 37.3% and people aged between 36 to 45 at 17.8%, according to the Q3 2025 edition released by CoinSwitch, India’s largest crypto trading platform, on Thursday.
Over 2.5 crore users are mapping India’s evolving crypto investment behaviours, trading patterns, and demographic trends, India’s Crypto Portfolio: How India Invests report said.
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Crypto TrackerTOP COINS (₹) Tether89 (0.6%)BNB98,614 (0.4%)Bitcoin9,777,854 (-1.76%)Ethereum345,860 (-1.88%)XRP227 (-2.89%)The findings reveal that metro cities continue to dominate, led by Delhi (19.3%), Bengaluru (8.9%), and Mumbai (7.0%). However, Tier-2 hubs like Jaipur, Lucknow, Patna, and others are emerging as new centres of adoption.
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View Details »Investment data shows Bitcoin (7.2%), Dogecoin (6.1%), and Ethereum (4.9%) as the most held assets. Seven of the top ten tokens are established large-cap coins, indicating that investors are moving towards long-term, utility-driven portfolios.
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“Our insights reflect one of the largest retail investor bases in the country. The data clearly shows India’s crypto market is entering a more mature phase. What we’re seeing is financial empowerment beyond the big cities. Though metros continue to lead, the next phase of India’s crypto story will be shaped by Tier-2 and Tier-3 cities,” said Balaji Srihari, Vice President of CoinSwitch.
Trading activity was led by Ethereum (8.9%), Ripple (7.6%), and Bitcoin (7.6%), showing traders’ preference for momentum plays around coins nearing all-time highs.
The portfolio analysis revealed distinct regional patterns. It revealed that Mumbai leads in Blue-Chip investments (37.4%) and Hyderabad tops the Large-Cap allocations (37.3%). It further revealed that Patna dominates Mid-Cap allocations (42%), whereas Jaipur leads Small-Cap portfolios (9.4%).
The report highlights that Kolkata recorded the highest profitability, with 77% of portfolios in green.
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According to the report, July 2025 emerged as the busiest month of the quarter, accounting for the highest share of overall trading volumes on the platform. Peak trading activity was recorded on July 11 and July 18, coinciding with Bitcoin’s record-breaking rally and the U.S. passage of the GENIUS Act.
The Q3 2025 findings reaffirm that India’s crypto market is expanding in both maturity and reach. As India’s largest crypto trading platform, CoinSwitch remains committed to building a secure, transparent, and education-first environment that enables every Indian investor to participate in long-term wealth creation in crypto responsibly and confidently.
Note: These insights are based solely on CoinSwitch user data and do not reflect trading or investment activity on other platforms.
