Gemini’s 2025 Global State Of Crypto: How Policy, Memecoins, And ETFs Are Shaping Adoption
In Brief
In 2025, the global crypto market is experiencing growth driven by increasing adoption, regulatory support, memecoin popularity, and ETF expansion, with Europe leading ownership gains and US policy shifts boosting confidence and institutional interest.
The crypto market has entered a new phase of global growth in 2025, and Gemini’s (a global crypto and Web3 platform founded in 2014 by Cameron and Tyler Winklevoss) the latest annual report confirms it. Released under embargo and based on detailed survey data from six countries, the 2025 Global State of Crypto report paints a picture of increasing ownership, shifting demographics, and key market drivers like pro-crypto regulation, memecoin popularity, and ETF adoption.
The findings show that nearly one in four adults globally now own crypto — up from one in five just a year ago. While the trend is global, the growth isn’t evenly distributed. Europe is leading, the U.S. is politically reshaping its crypto narrative, and younger generations remain the most enthusiastic participants.
A Turning Point in U.S. Policy
In the Introduction section of the report, Gemini highlights 2025 as a year of transformation — not just technologically but politically. The election of President Donald Trump marked a sharp pivot in U.S. crypto policy. In March, Trump announced the launch of a Strategic Bitcoin Reserve. This reserve aims to accumulate bitcoin in a tax-neutral manner while ensuring the U.S. does not sell the roughly 198,000 BTC it already holds in the Treasury.
This shift signals a more aggressive alignment with digital assets. The administration also restructured the SEC under a “pro-innovation” framework, promoting stablecoin legislation and reducing enforcement pressure on crypto companies. As the report notes, “publicly-traded companies have turned to bitcoin as a viable reserve asset,” betting it will outperform traditional treasury bonds.
How the Report Was Compiled
The findings are based on a comprehensive online survey conducted between March 18 and April 10, 2025. The survey included 7,205 respondents across six countries: the United States, United Kingdom, France, Italy, Singapore, and Australia — about 1,200 participants per country. Gemini partnered with Data Driven Consulting Group, and the sample represents adults aged 18 to 75 with household incomes of at least $14,000 per year.
The survey explored areas such as:
- General awareness and attitudes toward crypto;
- Ownership patterns and motivations;
- ETF and memecoin adoption;
- Regulatory perceptions and demographic trends.
Europe Leads in Crypto Ownership
As outlined in the Top Findings, ownership increased globally in 2025 — with Europe showing the strongest growth.
- In the UK, crypto ownership rose from 18% in 2024 to 24% in 2025, the sharpest jump of any region surveyed;
- In France, ownership grew from 18% to 21%, while Singapore saw a rise from 26% to 28%;
- The U.S. also gained slightly, from 20% to 22%.
This European momentum may be tied to regulatory clarity from the EU’s Markets in Crypto-Assets (MiCA) framework, which has laid a foundation for broader adoption.
Confidence Driven by U.S. Policy
One of the most discussed takeaways in the report is how political support has affected public sentiment. Nearly 23% of U.S. non-owners said the creation of the Strategic Bitcoin Reserve made them feel more confident in crypto’s value. The same sentiment was shared by 21% in the UK and 19% in Singapore.
As the report notes:
“President Trump’s policies are making an impact… This sentiment was echoed by respondents in the UK and Singapore.”
This signals that public confidence isn’t just rising among current holders — it’s growing even faster among those who’ve never owned crypto before.
Memecoins: A Serious Gateway
The section titled Memecoins dives into one of the report’s most eye-catching stats. It turns out memecoins — long considered risky or unserious — are actually driving adoption in meaningful ways.
- In the U.S., 31% of users who hold both memecoins and traditional cryptocurrencies said they bought the memecoins first;
- In Australia and the UK, the figure is 28%;
- It’s 23% in Singapore, 22% in Italy, and 19% in France.
The pattern suggests memecoins act as onramps — sparking initial interest, then leading to investment in more established tokens. In fact, globally, 94% of memecoin holders also own other types of crypto.
France in Focus
France is the standout leader in memecoin adoption. 67% of crypto investors in the country own memecoins — the highest among all surveyed nations. Singapore (59%), Italy (58%), and the UK (57%) follow closely.
ETFs Gain Ground
The approval of spot crypto ETFs in early 2024 proved to be a milestone. In the U.S., 39% of crypto owners now say they hold ETFs — up from 37% the previous year.
These products are also becoming more common in other countries:
- Italy: 47%;
- UK: 41%;
- Singapore: 40%;
- Australia: 38%;
- France: 32%.
The report describes this as the fastest growth ever recorded in ETF history, with large capital inflows pushing up bitcoin prices and expanding crypto exposure to more traditional investors.
A Reliable Store of Value
Gemini dedicates an entire section of the report to the shifting perception of crypto from a speculative asset to a dependable store of value.
“The crypto market has been resilient in 2025… Many investors view crypto as a reliable store of value in any market environment.”
Evidence for this? Selling has declined. In 2025, only about one in ten past owners said they sold their crypto in the previous six months — down from significantly higher figures in 2024.
- USA: 17% (2024) → 15% (2025);
- Singapore: 11% → 9%;
- Australia: 12% → 8%.
Inflation, Gender & Generational Shifts
Crypto is also being seen as a hedge against inflation — particularly in the U.S., where 39% now say they buy and hold crypto for that reason (up from 32% last year). In France, the number is even higher at 42%, followed by 41% in Singapore and 35% in the UK.
Meanwhile, the gender gap in crypto is narrowing, albeit slowly:
- In the U.S., 30% of crypto owners in 2025 are women (up from 28%);
- In the UK and France: 33% and 30%;
- In Singapore: 34%.
When it comes to age, the crypto market remains distinctly youth-driven. Nearly 52% of Gen Z and 48% of Millennials globally said they currently own or have previously owned crypto. That compares to just 26% of Gen X and 11% of Boomers.
Conclusion: A Market Ripe With Momentum
The Gemini 2025 report is not just a data dump. It’s a signal — that crypto is becoming more integrated with the financial system, more supported by governments, and more evenly distributed across age groups, genders, and nations.
As Marshall Beard, Chief Operating Officer at Gemini, put it:
“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. With this pro-innovation approach, the crypto industry is positioned for significant growth in the United States and around the world.”
With memecoins onboarding new users, ETFs unlocking institutional money, and government policy playing a bigger role than ever, the future of crypto may be shaped just as much by legislation and accessibility as by technology itself.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
