Investment data shows that Bitcoin (7.2%), Dogecoin (6.1%) and Ethereum (4.9%) are the most commonly held assets.
India’s youth in the 18 to 25 age group surpassed the working age groups 26 to 35 and 36 to 45 in crypto investments, as shown in CoinSwitch’s Q3 2025 report, ‘India’s Crypto Portfolio: How India Invests.’
Gen Z (18-25 years) leads the Indian crypto investor base for the first time at 37.6 percent, narrowly surpassing Millennials (26-35 years) at 37.3 percent and (36-45) at 17.8 percent, the report said.
July 2025 was the busiest month of the quarter, accounting for the highest share of total trading volumes on the platform. Peak trading activity was recorded on July 11 and 18, coinciding with Bitcoin’s record-breaking rally and the US passage of the GENIUS Act.
Mumbai among the top three investors
Mumbai was one of India’s top three crypto investment hubs with a participation of 7.0 percent, after Delhi and Bengaluru. Known for its financial maturity, Mumbai’s investor base continues to choose long-term value and stability over short-term speculation, in keeping with the city’s legacy as the country’s financial capital. The data shows a clear pattern of risk-calibrated investing, with Mumbaikars leaning heavily towards blue chip and large-cap assets.
“With 67.3 percent of investors’ portfolios profitable, Mumbai continues to lead with consistent returns and a maturing investment mindset, carefully balancing market opportunities with downside protection,” the report said.
Interest among tier-2/3 cities
Metro cities continue to dominate, led by Delhi (19.3 percent), Bengaluru (8.9 percent) and Mumbai (7 percent). However, Tier-2 hubs like Jaipur, Lucknow, Patna and others are emerging as new adoption hubs.
“Our insights reflect one of the largest retail investor bases in the country. The data clearly shows that the Indian crypto market is entering a more mature phase. What we are seeing is financial empowerment beyond the major cities. While metros continue to lead the way, the next phase of India’s crypto story will be Tier 2 and 3 cities,” said Balaji Srihari, Vice President of CoinSwitch.
Investment data shows that Bitcoin (7.2 percent), Dogecoin (6.1 percent) and Ethereum (4.9 percent) are the most commonly held assets. Seven of the top ten tokens are established large-cap coins, indicating that investors are moving toward long-term, utility-driven portfolios. Trading activity was led by Ethereum (8.9 percent), Ripple (7.6 percent) and Bitcoin (7.6 percent), showing traders’ preference for momentum around coins nearing all-time highs.
Published on October 30, 2025
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