Gen Z traders on Binance increased their ETF share of equity trading volume to 25% in early August, while individual stock allocation declined. They averaged fewer trades per month compared to Millennials and Gen X. The data also showed limited demand for leveraged ETFs among Gen Z users. Binance’s direct-equities products only reached meaningful scale in June, limiting the data available for analysis. Other platforms, such as Crypto.com, also offer tokenized derivatives tied to U.S. stocks and ETFs for eligible users. Interest in equity products on crypto platforms is growing, with Binance’s bStocks briefly overtaking Kraken-backed xStocks in tokenized stock value.

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