The news: The future of crypto ownership is being defined by younger generations, according to EMARKETER’s latest forecast. US Gen Zers are rapidly closing the adoption gap with millennials, while Gen Xers and baby boomers account for a progressively smaller share of crypto owners. 

Zoom in: Younger consumers are driving nearly all of the projected growth in crypto through 2028.

• Gen Z will represent 33.0% of crypto owners by 2028—more than doubling from 14.4% in 2021 and making Gen Z the fastest-growing cohort.
• Millennials will remain the largest generation of crypto owners through the forecast period, though their share will decline from 44.9% to 35.9%.
• Gen X’s share will steadily fall from 30.7% in 2021 to 19.9% by 2028 as younger generations outpace them in adoption.
• Baby boomers’ share of crypto ownership will remain small but stable, peaking at 11.4% in 2023 before easing to 9.8% by 2028.

Why it matters: Gen Z’s growing crypto presence is pushing financial institutions (FIs) to launch more crypto services. Early adopters are betting that younger consumers will increasingly expect digital assets to sit alongside traditional banking products. 

Implications for banks: FIs need crypto offerings to not only meet customer demand but also keep pace with fintech competitors. Companies like Better and Coinbase are already rolling out crypto-backed financial products as digital assets become a more integral part of consumers' financial lives. Banks that fail to expand their offerings—from custody and investing to lending—risk losing younger customers to faster-moving competitors.

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