Grayscale Shares Why the $110T Wealth Transfer to Younger Generations Could Benefit Crypto

A new report from Grayscale Investments says that a projected $110 trillion transfer of wealth could become a major long-term driver for the crypto market.

The report, written by Zach Pandl, Head of Research, suggests that this imminent development may represent one of the biggest financial changes in modern history.

Key Points

• Americans aged 60+ hold about $110 trillion, which will shift to younger generations over time.
• Industry estimates place the total wealth transfer between $84 trillion and $124 trillion by 2045-2048.
• These younger generations show stronger crypto adoption, with 45% of Gen Z and Millennials owning crypto compared to 18% of Gen X and Boomers.
• Grayscale Investments says the imminent $110 trillion wealth transfer to younger generations could benefit crypto.
• A 2% allocation of the $110 trillion could add $2.2 trillion to crypto markets.

Generational Divide in Crypto Adoption

The Grayscale report points out that Baby Boomers are the richest generation in U.S. history, holding close to $90 trillion in wealth at the end of last year, based on Federal Reserve data.

Combined with the Silent Generation, Americans aged around 60 and older control about $110 trillion in total net worth. Over time, this wealth will move to younger generations through inheritance and other transfers.

Grayscale notes that these younger generations think very differently about investing, especially when it comes to crypto. Data from Coinbase’s State of Crypto survey reveals that 45% of Millennial and Gen Z investors hold crypto. However, only 18% of Gen X and Baby Boomer investors do.

Meanwhile, Pew Research data shows a wider gap. Specifically, only 8% of Americans aged 50 and above have ever used or invested in crypto. This shows a difference between generations, which could change how money is invested as wealth moves to younger people.

Potential Impact on Crypto Market Valuations

The report says the upcoming wealth transfer could have a massive impact on crypto prices and market size. As younger people receive more wealth, they may choose to invest more of it in digital assets.

Grayscale provided an estimate for perspective. If just 2% of the $110 trillion moves into crypto, this would create about $2.2 trillion in new demand. For comparison, the total global crypto market is currently worth about $2.52 trillion, so this inflow could nearly double the market.

The report concludes that this shift could support long-term growth in crypto, not merely short-term price movements.

Broader Industry Data Supports the Thesis

Other industry data supports this view. Recent estimates from Cerulli Associates and Merrill Lynch suggest that between $84 trillion and $124 trillion will move from older to younger generations between 2045 and 2048.

Of this figure, about $46 trillion is expected to go to Millennials, $39 trillion to Gen X, and $15 trillion to Gen Z, with the rest mostly going to charities.

Grayscale’s $110 trillion estimate sits within this range. Analysts generally see this imminent wealth transfer as positive for crypto, especially since younger generations are 2-4x more likely to own and invest in digital assets.

Crypto Ownership Trends and Demographics

Crypto adoption has grown a lot since the early 2020s. The Security.org 2026 Cryptocurrency Adoption and Sentiment Report, based on 992 U.S. adults surveyed in late 2025 and early 2026, found that 30% of adults, or about 70.4 million people, own crypto.

This is up from 27% in 2024, after reaching 33% in 2022 during the pandemic boom and then dropping during the market downturn. Ownership has now stabilized, as a result of spot Bitcoin ETF approvals and pro-crypto policies.

Further data from Security.org confirms the younger generation’s affinity to crypto: 19% of those aged 18-29 own crypto, 32% for ages 30-44, 31% for ages 45-59, and 17% for those aged 60 and above. About two-thirds of crypto owners are between the ages of 30 and 59.