Karnataka emerged as a blue-chip heavy crypto market: CoinSwitch

Bitcoin was the most invested asset in Karnataka, while XRP led trading activity, underscoring the preference for high-conviction established tokens | Photo credit: Getty Images

In the 2025 edition of its flagship report, India’s Crypto Portfolio: How India Invests, the crypto trading platform highlighted that Karnataka is among the top 10 Indian crypto markets, contributing 7.9 percent of the country’s total invested value.

The growth reflects a mature investor base with a strong belief in digital assets with high liquidity for the long term. Younger investors continue to dominate activity in Karnataka, in line with national demographic trends. The gender mix indicates an expanding participation base, with women representing 29.0 percent of the state’s crypto investors and men 71.0 percent.

“2025 has been a year of marked maturation for the Indian crypto market,” said Ashish Singhal, co-founder of CoinSwitch. “We see investors moving past the early excitement and making more informed, conviction-based decisions. As metros continue to generate strong interest, the broader story of adoption is unfolding in India’s non-metro regions, which now account for more than 75 percent of the country’s crypto activity. The same momentum is visible in the Indian stock markets, where non-metros continue to rise and are poised to deliver the next million investors,” he added.

Bitcoin first

The state’s portfolio mix shows a disciplined, stability-oriented approach: 30.1 percent in blue chip assets, 31.2 percent in large-caps, 17.6 percent in mid-caps and 21.2 percent in small-caps. Bitcoin was the most invested asset in Karnataka, while XRP led trading activity, underscoring the preference for established, high-conviction tokens.

Overall, the findings position Karnataka as one of India’s most balanced and strategy-driven crypto markets, supported by consistent participation and high-quality asset allocation.

The report also highlighted that Bitcoin regained its top spot as the most invested asset with an allocation of 8.1 percent, surpassing Dogecoin (DOGE). The 26 to 35 age group represents 45 percent of crypto investors in India, and the 18 to 25 segment rose to 25.3 percent, indicating stronger youth involvement.

Published on December 15, 2025