Crypto use in U.S. rose to 10% in 2025, highest since 2022: Fed

The U.S. Federal Reserve's 2025 report on the economic well-being of households shows that roughly 10% of U.S. adults used or invested in cryptocurrency in 2025. The share rose by two percentage points from 2024 but remained below the 12% peak recorded in 2021, returning to levels comparable with 2022.

Breakdown in the Fed data indicates that about 9% of adults bought or held crypto as an investment, while approximately 2% used it to make purchases or payments and 1% used it to send money to friends or family. Among those who used crypto for transactions, 26% said the recipient preferred cryptocurrency; other commonly cited reasons included speed (19%), privacy (17%) and lower cost (14%). Use for transactions was notably higher among unbanked adults (6%) compared with banked adults (2%).

From a market perspective, the report underscores that crypto remains primarily an investment vehicle for most Americans, with everyday payment use still niche. The pickup in investment-side participation aligns with broader institutional product launches and greater market access, but low transactional adoption points to persistent frictions such as consumer awareness, merchant acceptance and regulatory uncertainty. The Fed data highlight that business preference and transaction advantages are important drivers where payments occur, but do not yet translate into mass retail adoption.

In the broader economic context, the findings intersect with questions about financial inclusion and digital payment transformation. Higher relative usage among lower-income and unbanked groups suggests cryptocurrency plays a role for certain underserved cohorts, while the limited use among banked consumers indicates mainstream payment systems and trust remain dominant. Regulatory clarity on stablecoins and payment rails will likely influence how this dynamic evolves.

Analysts say the data point to gradual adoption: sustaining growth in crypto holdings will depend on volatility, regulatory developments and the performance of institutional products. In the near term, market participants will watch regulatory guidance, stablecoin rules and advances in scalable payment technologies as potential catalysts that could raise the share of crypto use for everyday transactions.