‘A great year for crypto’: Coin adoption hits new high, but ‘Trump Effect’ sows doubt

Australians are adopting and profiting from cryptocurrency investments at record levels, results from a recent investor survey have revealed, though the ‘Trump Effect’ draws uncertainty among crypto investors this year.

Nearly one-third (32.5%) of surveyed Australians report owning or having owned a cryptocurrency coin, up from 27.5% in the previous year, according to the sixth annual Independent Reserve Cryptocurrency Index (IRCI) report, a cross-sectional survey of crypto awareness and adoption levels.

This figure is the highest reported crypto adoption level in the six years of the survey.

A further 14.3% declared their intention to invest in crypto but refrained due to economic concerns.

General awareness of cryptocurrency among Australians has remained unchanged from its 2024 high of 95%.

Interest in crypto investing this year remains strong, with 29% stating their plan to invest in crypto over the next 12 months; nearly one in 10 (9%) crypto newbies – those who have not invested in crypto previously – indicated that they plan to enter the market.

Profitability from crypto investments is on the rise, with 57.3% of IRCI respondents reporting a return this year, a notable jump from the 37.1% recorded in the previous year. However, this figure still falls short of the 2021 high water mark, where 60% of investors reported a profit.

Long-term crypto investors appear to be considerably better off than short-termers, with 73.5% of individuals in the market for six to 10 years seeing profits, compared to just 37.5% of those with less than a year of exposure.

What is more, larger monthly investments correlate with higher profitability, with 89% of those investing more than $10,000 per month reporting gains.

Bitcoin, unsurprisingly, remains the most popular choice of digital coin, held by more than two-thirds (70%) of Australian crypto investors. Ethereum, with some gap, is the next most popular coin, owned by 29.8% of investors, which the IRCI notes, has declined from previous years.

Other “rising stars” include ‘meme coin’ Dogecoin at 17.3% and Solana at 12.7%, while XRP ownership has dropped to 15.1%.

Nevertheless, despite rising adoption, crypto remains a relatively small part of Australians’ investment portfolios, suggesting some scepticism concern over heightened risk.

For the vast majority of investors (70%), less than 10% of their portfolio has been allocated to digital assets. Only a small minority (2.1%) hold more than half their investment portfolio in crypto.

As well, nearly one in five investors (19.3%) said their bank had prevented them from buying crypto or delayed sending money to a crypto exchange.

According to the IRCI, this “[highlights] the need for clear and supportive regulation to ensure the sector’s legitimacy and continued growth”.

The ‘Trump Effect’

Since the inauguration of the Trump Administration, which had already shown crypto-friendly overtures pre-election, market sentiment around crypto assets has been particularly bullish, the IRCI notes.

“This political shift was seen as a catalyst for further mainstream adoption and potentially clearer regulatory frameworks not only in the US, but around the world,” the IRCI wrote in its report.

It added: “The IRCI data suggests that Trump’s perceived alignment with decentralisation and opposition to traditional financial systems resonates with crypto investors, especially those deeply embedded in the space and those motivated by dissatisfaction with the status quo.”

However, many remain uncertain about Trump’s unpredictable policy agenda and its future impact on crypto investments.

Overall, nearly a third (31%) of survey respondents regard Trump as good for crypto, compared to just 8% who take a more negative view of his impact on the sector.

“The majority, however, remain neutral,” the IRCI wrote, “indicating widespread uncertainty about the President’s potential influence.”

The IRCI identified a “stark divide” between dedicated crypto investors to non-investors, underscoring, it said, “how the direct involvement in crypto shapes perceptions of external influences”.

Of the dedicated crypto investors, at least half (50%) believe Trump is good for cryptocurrency; only 6% held a negative view.

By contrast, less than a quarter (22%) of non-crypto investors view Trump positively in relation to crypto, while 9% consider him bad for the sector.

The IRCI 2025 is an annual cross-sectional survey of more than 2,100 everyday Australians (i.e. not restricted to crypto investors).