Lawrence Damilola
Gemini’s 2024 Global State of Crypto report reveals that cryptocurrency ownership has remained stable in key markets such as the United States, United Kingdom, France, and Singapore since 2022.
The report examines trends in crypto adoption, motivations for owning digital assets, and the impact of recent crypto exchange-traded fund (ETF) approvals. Despite recent market fluctuations, data shows that many investors are still committed to holding cryptocurrencies.
In the United States, 21% of the respondents reported owning cryptocurrency, a figure unchanged from 2022. The United Kingdom maintained an 18% ownership rate over the same period. In France, the percentage of crypto owners rose slightly from 16% to 18%, while in Singapore the number dropped from 30% to 26%.
The Gemini report attributes this consistency to crypto owners’ long-term view of digital assets. “Nearly two in three crypto owners across these geographies (65%) report buying and holding cryptocurrency for its long-term investment potential,” it said. Additionally, 38% of crypto owners see digital assets as a hedge against inflation.
The approval of Bitcoin and Ether spot ETFs has had a noticeable impact, particularly in the U.S. The report said that nearly 37% of crypto owners in the U.S. hold some cryptocurrency through an ETF.
“The introduction of spot crypto ETFs in the United States and the significant headway toward thoughtful regulation in many jurisdictions globally has positioned the industry for strong growth,” said Marshall Beard, COO at Gemini.
The report also highlighted changes in the demographics of crypto ownership. In 2024, 31% of crypto owners identified as female, down from 42% in 2022. In contrast, 69% of crypto owners in 2024 were male, an increase from 58% over the same period. Despite this shift, the report noted that women who do own cryptocurrencies are as likely as men to hold them long-term. “The gender gap in crypto ownership persists, but women are just as likely to HODL,” the report mentioned.
Regulatory clarity remains a significant barrier for potential investors. “In the U.S. and UK, nearly two in five (38%) non-owners cited regulatory concerns as a barrier to investing in crypto,” the report said. This concern is more pronounced in Singapore, where nearly half (49%) of respondents cited regulation as a concern. In France, almost one in three (32%) expressed similar worries.
The report later pointed to the growing relevance of cryptocurrency in political decision-making, particularly in the United States. “The vast majority of crypto owners in the U.S. (73%) plan to consider a candidate’s digital asset policies when they vote for the next president,” the report revealed. This development suggests that crypto-related policies are becoming a factor in electoral considerations among U.S. investors.
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Lawrence does not hold any crypto asset. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
