Cryptocurrency adoption continued its upward trend in 2025, with the United Kingdom showing the most significant year-over-year growth, according to Gemini’s newly released 2025 Global State of Crypto report.
UK crypto ownership rose to 24%, up from 18% in 2024—the largest gain among the countries surveyed. France also saw growth, reaching 21%, while both the U.S. and Singapore reported ownership levels at 21% and 28%, respectively. Singapore maintained the highest overall penetration, increasing from 26% last year.
Gemini’s data suggests political events are influencing public sentiment. In the U.S., former President Donald Trump’s announcement of a Strategic Bitcoin Reserve had a measurable effect: 23% of American non-crypto owners said it made them more likely to trust crypto. That shift was mirrored by 21% in the UK and 19% in Singapore.
The report also shed light on the role of memecoins in driving initial crypto exposure. In the U.S., 31% of dual holders (those with both memecoins and traditional cryptocurrencies) started with memecoins. This entry path was similarly common in Australia (30%) and the UK (28%). Across all markets, 94% of memecoin investors also held other crypto assets.
Meanwhile, spot crypto ETFs gained traction among retail investors. In the U.S., ETF participation rose to 39%, up from 37% a year earlier. Italy led globally with 47% of crypto users holding ETFs, followed by the UK (41%), Singapore (40%), Australia (38%), and France (32%).
The findings are based on a survey conducted by Gemini between March and April 2025, involving 7,205 consumers across six key markets: the U.S., UK, France, Italy, Australia, and Singapore.
