New entrant signals Gujarat’s growing confidence in digital assets
GUJARAT, AHMEDABAD | 30th OCTOBER 2025: CoinSwitch, India’s largest crypto trading platform, today released the Q3 2025 edition of its flagship report, India’s Crypto Portfolio: How India Invests. The report draws insights from over 2.5 crore users, mapping India’s evolving crypto investment behaviours, trading patterns, and demographic trends.
The findings reveal that Gen Z (18–25) now leads India’s crypto investor base for the first time with 37.6%, narrowly surpassing Millennials (26–35) at 37.3% and (36-45) at 17.8%.
This edition captures notable shifts in Ahmedabad’s investor behaviour. For the first time, the city has entered India’s Top 10 crypto-investing cities, securing the 10th spot in Q3 2025. The city’s debut signals a significant uptick in crypto awareness and acceptance across Gujarat a state traditionally known for strong financial acumen and entrepreneurial spirit.
Ahmedabad’s crypto investors are demonstrating both caution and growth appetite, favouring large and mid-cap tokens while staying diversified across asset classes:
- Blue-chip assets make up 7% of investor portfolios
- Large-cap assets lead the way at 9%
- Mid-cap assets hold a solid 5%
- Small-cap assets round out the mix at 9%
With 67.6% of portfolios in the green Ahmedabad’s investors are showcasing both confidence and maturity in navigating the evolving crypto landscape. This strong performance highlights increasing awareness of crypto investment strategies, risk management, and long-term wealth-building approach.
“Our insights reflect one of the largest retail investor bases in the country. The data clearly shows India’s crypto market is entering a more mature phase. What we’re seeing is financial empowerment beyond the big cities. Though metros continue to lead, the next phase of India’s crypto story will be shaped by Tier 2 & 3 cities”, said Balaji Srihari, Vice President of CoinSwitch.
According to the report, July 2025 emerged as the busiest month of the quarter, accounting for the highest share of overall trading volumes on the platform. Peak trading activity was recorded on July 11 and July 18, coinciding with Bitcoin’s record-breaking rally and the U.S. passage of the GENIUS Act.
Key Findings of the report:
- Gen Z (18–25) surpasses Millennials (26–35 & 36-45) as India’s leading crypto investor group in Q3
- Delhi, Bengaluru, and Mumbai remain top crypto cities; Tier-2 cities surge in adoption
- Established large cap coins dominate portfolios showing increasing long-term utility-driven strategy
- Kolkata recorded the highest profitability, with 77% of portfolios in green
Note: These insights are based solely on CoinSwitch user data and do not reflect trading or investment activity on other platforms.
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