A report released by Binance Research on August 12 indicated that Gen Z users exhibit lower trading frequency in Binance's direct stock, tokenized stock, and traditional finance perpetual contract products, showing the lowest turnover rate among all working-age groups. The report found that Gen Z shows significant interest in non-leveraged ETFs, with their share of direct stock trading volume for ETFs rising from 14.6% in June to 25% in early August, significantly higher than millennials' 9.5%. Furthermore, when Gen Z withdraws funds, ETFs are a segment they continue to invest in. In terms of perpetual contracts, Gen Z's trading frequency is also lower than other age groups, and their participation in leveraged and inverse ETF products is the lowest. The report concluded that Gen Z's investment behavior in the cryptocurrency space, among non-retirement age groups, is surprisingly similar to the conservative strategies of the Baby Boomers.