The younger the investor in the U.S., the more likely they are to embrace cryptocurrency. And that is in spite of the outsized risks and volatility that come along with the asset class, a new YouGov 2025 investing survey finds.

Gen Z in particular is smitten with crypto. Among Americans age 18 to 27, 42% already own cryptocurrency and 65% say they are likely to invest more this year. Millennial investors are not far behind: 36% of them already own crypto. Only 24% of Gen X investor already have crypto in their portfolios and Baby Boomers lag considerably with just 8% owning the asset class,

“While different generational life stages naturally correlate with varying levels of investment capital and appetite for risk, we are seeing this trend materialize around cryptocurrency. The younger generations are especially eager to invest in a more diversified manner,” said Todd Dupey, SVP of market research at YouGov America.

But for younger investors especially, the enthrallment with crypto may be setting them up for failure. Among Gen Z nearly four times more investors own crypto than have established a retirement account (11%.) Financial planners urge younger investors to establish a workplace or individual retirement plan as quickly as possible to take advantage of the tremendous compounding of growth the occurs over long periods.

46% of Gen Z investors and 64% of Millennials do have a savings account. But otherwise they do not own many conservative investments like money-market funds, CDs or bonds. Boomers still own the biggest percentage of stocks, bonds, real estate and mutual funds among all age groups.

Among the report’s other highlights:

• The majority of prospective 2025 investors are Gen Z or Millennial (55% vs. 42% gen pop)
• 70% of Gen Z investors and 68% of Millennial investors express confidence in managing their investments, vs 60% of all investors.
• Less than a third of Gen Z investors work with a financial advisor (32%), compared to more than half of Baby Boomer and Silent Generation investors (51%)
• Younger investors are increasingly considering stocks (+16.4 growth score for Gen Z; +5.9 for Millennials), while older investors see most growth in options and futures (+3.4 for Gen X; +1.2 for Baby Boomers+)
• Real estate platforms represent the trendiest investment channel for all generations, with a 2025 growth score of +10.2 for Gen Z, +5.2 for Millennials, +3.1 for Gen X, and +0.5 for Baby Boomer+ investors.

“With the continued emergence of tech-first investment platforms versus in-person meetings with financial advisors, more Americans have the opportunity and are more likely to make investments,” Dupey said.

The report analyzes more than 30,000 US investor surveys conducted throughout 2024.

YouGov’s report is available for download.

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