Gemini’s State of Crypto Report found that global growth is likely to continue as a result of President Trump’s crypto policies.
Gemini crypto exchange recently released its 2025 Global State of Crypto report. The report found that the number of users owning crypto 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 established a Strategic Bitcoin Reserve for the United States, appointed SEC leadership more favorable to digital assets, and expressed support for bills that will provide stablecoin legislation and a regulatory framework for digital assets.
Survey results suggest 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.
Other key findings include:
- 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 21% to 22%, and in Singapore from 26% to 28%.
- Memecoins 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 30% in Australia, 28% in the UK, 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 leads the way in memecoin adoption: France’s pro-crypto stance has inspired deeper investment in memecoins in the country. In France, 67% of crypto investors own 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 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.”
Read the full report here.
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