Gen Z and Millennials see crypto as future of finance, Boomers stick with banks

Younger Americans are growing more confident in crypto, while older generations remain firmly aligned with traditional finance, according to a new survey published as part of the OKX Insights series.

The survey, which polled 1,000 Americans in January, found a sharp generational divide in trust, outlook and expectations for digital assets. The younger the respondent, the more likely they were to view crypto as both credible today and central to finance tomorrow.

When asked how much they trust crypto platforms, 40% of Gen Z (aged 12–29) and 41% of Millennials (aged 29–45) gave high confidence scores, rating their trust at seven or above on a 10-point scale. Among Baby Boomers (aged between their late 50s and late 70s), just 9% did the same, making younger generations roughly five times more trusting than their older counterparts.

On the other hand, 74% of Boomers assigned high trust scores to traditional banks. Younger respondents were notably more skeptical, with around one in five Gen Z and Millennial participants saying they have low trust in banks.

Gen Z and Millennials are more trusting in crypto. Source: OKX

Related: Crypto to Handle 10% of Post-Trades by 2030: Citi Survey

Gen Z, Millennials grow more confident in crypto

Confidence among younger participants is also rising over time. Compared with January 2025, 36% of Gen Z and 34% of Millennials reported increased trust in crypto platforms. Among Boomers, sentiment was largely unchanged, with nearly half saying their views had not shifted and only 6% reporting greater confidence.

Looking ahead to 2026, trading plans mirror the same sentiment. Forty percent of Gen Z and 36% of Millennials plan to increase their crypto activity this year, compared with just 11% of Boomers, a nearly fourfold difference in bullishness.

“The trust gap is fundamentally about how different generations define trust,” an OKX spokesperson said, noting that Boomers tend to associate financial trust with institutional approval and regulatory oversight, while Gen Z and younger Millennials place greater value on verification, transparency and direct control.

“Regulation matters more to Boomers because their trust model is strongly tied to oversight and institutional legitimacy,” the spokesperson said. “So clearer rules and improved regulatory frameworks can help reduce hesitation, especially around consumer protection, custody standards, and market integrity,” they added.

Related: 60% of crypto investors are young, educated and invest under $10K — Survey

Wealth transfer could accelerate crypto adoption

The same generational split mentioned in the OKX survey may also help explain why some industry executives view crypto’s long-term adoption as a question of timing.

Speaking recently on the Milk Road show, Zac Prince, head of Galaxy Digital’s banking venture Galaxy One, said crypto’s next growth phase could be driven by an intergenerational transfer of wealth. As older, more crypto-averse generations pass on assets, he argued, younger heirs are likely to allocate capital to crypto.

UBS estimates that Americans hold $163 trillion in total wealth, with Boomers controlling more than half, or $83.3 trillion. Prince suggested that once this capital begins moving to younger generations, even a modest reallocation toward crypto could have an outsized impact on adoption.

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