Women investors represent over 13% of crypto futures traders in India, showing distinct preferences for specific digital assets like XRP and Bitcoin, while trading behavior shifts towards smaller cities.
New Delhi, India Jul 8, 2026 ALN: Women investors accounted for over 13% of crypto futures traders in India, with their average leverage remaining lower than that of male traders. This insight comes from a report by Giottus, which analyzed its 1.3 million-strong customer base during the September 2025 to May 2026 period. The report highlights that women traders exhibited a stronger preference for XRP, Bitcoin, and gold-linked assets. Notably, Bitcoin and Ethereum together accounted for only 15.35% of total futures volume during the review period, indicating a shift in trading preferences.
In recent years, the cryptocurrency market has gained significant traction in India, reflecting a global trend where digital currencies are becoming more mainstream. With the rise of various cryptocurrencies, the trading landscape has evolved, attracting a diverse group of investors. The increase in female participation in crypto futures trading is particularly noteworthy, as it signals a broader acceptance and engagement with financial among women, who have historically been underrepresented in this sector.
Crypto futures trading in India has seen significant growth, particularly from tier-2 cities. Nearly half of the country’s crypto futures participation now comes from these smaller cities, demonstrating a broader shift in trading behavior. Futures trading has overtaken spot volumes, contributing 57.22% of total platform trading volume, compared to 42.78% for spot trading. This change indicates that traders are increasingly looking for opportunities to leverage their investments through futures contracts, which allow them to speculate on the future price of cryptocurrencies.
The geographical distribution of traders is also shifting, with 48% of futures participants hailing from tier-2 cities, while 31% came from tier-1 locations. This trend suggests that leveraged products, such as futures, are no longer dominated by metro traders. The accessibility of trading platforms and the increasing availability of educational resources are likely contributing to this trend, empowering individuals in smaller cities to engage with the crypto market.
The report also noted a strong acceleration in user growth during 2026, with futures participation growing by 42.5% in February, 28.5% in March, 35.3% in April, and 30.3% in May. Currently, futures users account for only 24% of Giottus’ active user base, indicating considerable room for expansion. This growth reflects a burgeoning interest in cryptocurrencies as a viable investment option, as well as the increasing sophistication of traders who are willing to explore more complex financial instruments.
Vikram Subburaj, CEO of Giottus, commented on the changing landscape: “India’s crypto participation story is becoming geographically broader. We are seeing increasing engagement from smaller cities in products that were once viewed as niche or high-complexity.” This statement underscores the democratization of trading, where individuals from various backgrounds and locations are now able to participate in the crypto market.
Active traders showed unusually high engagement intensity, with average trades per active user peaking at 330 in January 2026. Even after a moderation in April, users averaged more than 51 trades a month, reflecting a tactical approach to trading. The high frequency of trades suggests that traders are not only active but also strategically managing their positions in response to market fluctuations.
Another significant trend is the growing interest in altcoins. Ethereum accounted for 7.07% of the traded futures volume, while Solana and XRP contributed 5.76% and 5.24%, respectively. This shift indicates that Indian retail traders are increasingly moving beyond Bitcoin exposure into higher-volatility altcoin opportunities. The diversification of portfolios is an important development, as it reflects traders' willingness to explore different assets and manage risk more effectively.
Tamil Nadu emerged as the dominant regional market, contributing 46.6% of all futures traders and 59.26% of the platform’s total futures trading volume. Kerala followed with a contribution of 10.23% to the total trading volume. The prominence of these regions may be attributed to factors such as local conditions, access to technology, and the presence of supportive communities that encourage trading activities.
The report also revealed a relatively balanced market positioning among traders, with long positions accounting for 52.79% of trades and short positions at 47.21%. This balance indicates that traders are actively managing their strategies to capitalize on both upward and downward market movements. Average leverage among Giottus futures traders stood at 10x, with over 30% of trades using leverage above this threshold. The use of leverage can amplify both gains and losses, making it a critical factor for traders to consider in their risk management strategies.
Despite the high leverage, monthly liquidation ratios ranged between 0.55% and 2.52%, suggesting that participation is not entirely speculative. Users are demonstrating greater awareness of position sizing and risk management while using leveraged products. This awareness is crucial, as it indicates that traders are increasingly educated about the risks associated with futures trading and are taking steps to mitigate potential losses.
Trading activity peaked between 7 PM and 10 PM, coinciding with post-work retail participation and overlap with US market hours. The lowest trading activity was recorded between 3 AM and 6 AM. This pattern highlights the importance of timing in trading strategies, as many traders appear to be capitalizing on the availability of market information and liquidity during peak hours.
In conclusion, the evolving landscape of crypto futures trading in India highlights the increasing involvement of women investors and the growing influence of tier-2 cities. As trading behavior becomes more tactical and diversified, the market is poised for further growth. The trends observed in this report not only reflect the changing dynamics of the crypto market but also point towards a future where financial inclusivity and education play pivotal roles in shaping investor participation. As the market continues to mature, it will be essential for traders to remain informed and adaptable to navigate the complexities of the crypto landscape.
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