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first_img Grayscale Research Director: Generation Z starts investing at an average age of 19

Grayscale Research Director Zach Pandl published an article on September 28, 2026, in the company's column The Stack. The article states that among American investors, Generation Z starts investing at an average age of 19, Millennials at 25, Generation X at 32, and Baby Boomers at 35. Based on a retirement age of 65, Generation Z has an investment horizon of 46 years, which is over 50% longer than the 30-year horizon when Baby Boomers started investing.Zach Pandl: Starting to invest earlier not only benefits from compound interest but also expands the capacity to take on risk. When young, labor capital accounts for a larger proportion of wealth, and a longer horizon means more time to recover from fluctuations, as well as more future income available for continued saving and investing, thereby expanding the lifetime risk budget. He believes that the returns on digital assets are both volatile and potentially asymmetric, making them more suitable for longer and more flexible horizons.Zach Pandl also mentioned that for early investors, the cost of recent volatility may be less than the opportunity cost of missing out on long-term upside. With decades available for rebalancing, adding funds, and compounding across cycles, early starters may allocate a higher proportion to digital assets while keeping their lifetime risk balanced. Starting to invest earlier gives investors more time to absorb fluctuations, potentially enhancing the utility of digital assets in long-term portfolios.

first_img Cboe is exploring the launch of VIX perpetual futures, still in the early stages

According to CoinDesk, Cboe is exploring the launch of perpetual futures linked to the VIX index, which is still in the early stages, with no contract specifications yet and no filing documents submitted. This news comes from Bloomberg.The VIX index measures the expected volatility over the next 30 days as reflected by the pricing of S&P 500 options. As investors buy options to hedge against sharp market declines, the demand for options during downturns surges, thereby raising the index, which is why it is regarded as Wall Street's "fear gauge." Perpetual futures were first proposed by economist Robert Shiller in 1993 and were subsequently commercialized by the cryptocurrency industry.A mature derivatives ecosystem has already formed around the VIX, covering futures, options, and exchange-traded products tracking the index. However, futures come with expiration dates, and when contracts terminate, traders must roll over their positions or shift their bets to the next available contract. This rolling operation is costly and erodes returns, which was a major criticism faced by Bitcoin futures ETFs when they debuted at the end of 2021.In contrast, perpetual swaps never settle and instead anchor contract prices to the spot index through a funding rate mechanism, theoretically providing investors with the closest investment channel to the actual VIX spot price. Martin Lee, Head of Market Insights at DWF Labs, told CoinDesk that traders do not need to worry about expiration and value decay, as they can focus solely on assessing the direction of the underlying asset. He expects a strong trend of "perpetualization" to emerge in the coming months.
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