Gen Z Surpasses Millennials As India’s Leading Crypto Investor Group

Gen Z now represents 37.6% of India’s crypto user base, overtaking Millennials.

Tier-2 cities like Jaipur and Patna show significant crypto adoption growth.

Bitcoin, Dogecoin, and Ethereum dominate holdings, with Ethereum leading in trading.

In a notable shift within India’s crypto market, Gen Z has surpassed Millennials to become the largest investor group, according to CoinSwitch’s “India’s Crypto Portfolio Q3 2025” report. Investors aged 18 to 25 now make up 37.6% of the user base, a slight lead over Millennials, who account for 37.3%. This shift signals a growing confidence among younger generations in digital assets as a long-term investment.

Growth of Crypto Adoption Beyond Metro Cities

The cryptocurrency market is still largely ruled by the big cities of Delhi, Bengaluru, and Mumbai, but the Tier-2 cities have already started recording a gradual increase in use. Delhi, with a 19.3% share of users, is the main city, Bengaluru follows at 8.9% and Mumbai at 7%. The new cities, however, are Jaipur, Lucknow, and Patna which are gaining more and more portfolio and investor activities.

Different regions have different tastes when it comes to the type of investments. Blue-chip investments are led by Mumbai while the city of Hyderabad is more inclined towards the big-cap assets. Patna is getting more mid-cap investments while Jaipur is leading in small-cap area. Meanwhile, the investors in Kolkata have reported the highest profitability, with 77% of their portfolios being in the profit zone.

Bitcoin continues to be the most held cryptocurrency in India, representing 7.2% of the total holdings. Close behind is Dogecoin, with a 6.1% share, reflecting its strong appeal among younger investors. Ethereum follows with a 4.9% share. In terms of trading volume, Ethereum is the most traded token, accounting for 8.9% of transactions, followed by XRP and Bitcoin at 7.6%.

A Shift Toward Long-Term Investment Strategies

CoinSwitch’s report highlights that investors are becoming more mature. Indian traders increasingly turn to the “buy and hold” strategy, which is concentrated on the most reliable virtual currencies. This pattern represents a growing optimism about the crypto market’s long-term potential, though regulatory uncertainty still exists.

Cryptocurrency activity in India has increased significantly, and a report from TRM Labs has projected that India will be the world’s largest crypto adoption market in 2025. India’s transaction volume increased 80% during the period from January to July, and the number of retail investors grew by 125%. The volume of stablecoin trades, which amounted to almost $4 trillion, now represents approximately 30% of the global volume, thus highlighting India’s growing importance in the digital asset sector.The progressive domination of Gen Z in the crypto market of India and the country’s acceptance of digital currencies go hand in hand. The increase in investment activities in Tier-2 cities indicates the extensive penetration of cryptocurrencies in the country even more. The focus on long-term investment is pointing towards India’s crypto landscape being transformed and ushering in a new era of digital finance.