Gen Z traders on Binance are directing more of their equity activity to ETFs, which accounted for 25% of the cohort's equity trading volume in early August, up from 14.6% in June, while Millennials allocated 9.5% of their early-August equity volume to the same instruments. Unleveraged ETFs drew 18.5% of Gen Z net equity inflows in June and 21.9% in July, while the share going to individual stocks fell to 74.2% from 77.0%. "We are seeing Gen Z ETF inflows rising steadily as younger investors prioritize diversification over single equities," Binance CEO Richard Teng said, though report author Lim Kim Thye cautioned that "two months is not enough to establish a trend." The shift comes after Binance opened direct stock trading in June 2026, with its tokenized U.S. equities reaching $100 million in assets under management within two weeks of launch and 47% of trading activity taking place outside regular U.S. market hours. Gen Z's total net equity deployment fell 17.4% in July, yet net inflows to unleveraged ETFs slipped only 2.0%, compared with declines of 20.4% for single stocks and 28.5% for leveraged products. Gen Z was also the only cohort whose ETF holder base expanded in July, rising 2.9%, while Millennials fell 4.5% and Gen X declined 5.9%. Gen Z also traded less frequently than other working-age cohorts and made less use of leveraged or inverse ETF products. Its ETF buyers traded 7.9 times in July versus 10.3 for Millennials, and across the sample ETF buyers typically held 1.4 to 1.6 fund symbols each. Leveraged and inverse ETFs made up 9.25% of Gen Z direct-equity turnover in July but only 3.93% of net monthly inflow, with that inflow share falling from 4.55% in June to 2.65% in the opening days of August. Binance said 88.2% of Gen Z accounts showed no leveraged or inverse activity in TradFi perpetuals and 96.5% showed none in direct equities. In direct-equity accounts, 22% of Gen Z users had never placed a sell order, compared with 30% of Millennials. The research also suggested social media is helping steer younger investors toward diversified, non-leveraged products.