Introducing the 2025 Global State of Crypto Report

The report offers a comprehensive breakdown of investor awareness around cryptocurrencies, motivations for owning and trading, crypto ETF adoption, the impact of the Trump administration’s policies on crypto, and more.

In 2025, the survey showed global adoption of crypto grew in all geographies. In 2024, one in five (21%) respondents in the United States, United Kingdom, France, and Singapore reported owning crypto. In 2025, that figure grew to nearly one in four (24%).

This global growth may be due in part to the Trump Administration’s treatment of crypto. Since coming into office in January 2025, President Trump has established a Strategic Bitcoin Reserve for the United States, appointed SEC leadership that has displayed a more favorable approach to digital assets, and expressed support for bills that will provide stablecoin legislation and a regulatory framework for digital assets.

Survey results suggest that these policies are inspiring interest in the industry among non-owners– those who have never invested in crypto. Understanding and winning over this group will drive significant growth for the industry, which has experienced relatively flat adoption over the past few years.

Nearly a quarter (23%) of non-owners in the US said President Trump launching a Strategic Bitcoin Reserve increased their confidence in the value of cryptocurrency. This sentiment was echoed globally by non-owner respondents in the UK and Singapore, where about one in five (21% and 19%, respectively) non-owners said the same.

More Key Findings:

• Europe leads the way in growing crypto ownership: In 2025, 24% of respondents in the UK said they were invested in cryptocurrency, up from 18% in 2024. It was the biggest year-over-year jump of any of the nations surveyed. In France, 21% of respondents reported owning crypto, up from 18% in 2024. In the United States, adoption grew from 20% to 22%, and in Singapore from 26% to 28%.
• Memecoins likely drove crypto adoption: In the US, 31% of investors who own both memecoins and traditional cryptocurrencies report that they purchased their memecoins first, followed by 28% in the UK and Australia, 23% in Singapore, 22% in Italy, and 19% in France. However, globally, 94% of memecoin owners also own other types of crypto, suggesting memecoins are an onramp to crypto for many investors around the globe.
• France pushes into memecoins: France’s pro-crypto stance has inspired deeper investment in memecoins in the country. In France, 67% of crypto investors report owning memecoins, followed by 59% in Singapore, 58% in Italy, 57% in the UK, 55% in the US, and 45% in Australia.
• Nearly two in five crypto owners in the US are invested in crypto ETFs: Following the approval of spot crypto ETFs in early 2024, adoption has increased, with 39% of crypto investors in the US reportedly owning crypto ETFs, up from 37% in 2024.
• Half of Gen Z and Millennials invest in crypto: Half of Millennial and Gen Z respondents globally (50%) said they either currently own crypto or have in the past, at 52% and 48%, respectively.

“The United States has proven itself as a global leader in web3 and blockchain technology with the addition of Trump’s pro-crypto policies, which is a significant change from the previous Administration” said Marshall Beard, Chief Operating Officer at Gemini. “With this pro-innovation approach, the crypto industry is positioned for significant growth in the United States and around the world.”

Gemini has conducted its State of Crypto report annually since 2021. Reports from 2022 and earlier can be found . The 2024 State of Crypto report can be found . The countries surveyed in the 2025 State of Crypto report included the United States, United Kingdom, France, Italy, Singapore, and Australia. Year-over-year data is only available for the United States, United Kingdom, France, and Singapore as Italy and Australia were new additions to the 2025 study.

Methodology

The 2025 Global State of Crypto report is based on a self-reported survey of 7,205 consumers in the US, UK, France, Italy, Singapore, and Australia (approximately 1,200 consumers per country). The survey was conducted online between March 18, 2025 and April 10, 2025 on behalf of Gemini by Data Driven Consulting Group. The total sample has been balanced and is generally representative of the adult population in each country ages 18 to 75 with household incomes of $14,000 USD or more. Data cited in the report as 2024 is from a survey conducted online between May 23, 2024 and June 28, 2024, also on behalf of Gemini by Data Driven Consulting Group.

*This release includes forward-looking statements and interpretations of public sentiment based on survey data. These do not represent definitive outcomes or endorsements by Gemini. *