Restrictive Policies Hide Client Crypto From UK Advisors

A new survey from CoinShares shows that more than half of UK wealth advisors believe most of their clients' cryptocurrency investments sit outside their professional oversight. The reason is not a lack of interest or expertise. It is restrictive firm policies.

The survey, conducted by Citywire on behalf of CoinShares, polled 261 wealth professionals across the UK, France, Germany, Italy, and Switzerland. In the UK, 52% of advisors said more than half of client crypto portfolios are held outside the advisory relationship. Across Europe, one in four advisors reported the same.

The 'management gap' covers crypto stored on personal exchanges or self-custody wallets that advisors cannot monitor. CoinShares found that 61% of advisors work for firms that either restrict digital asset investments or provide no formal guidance. At those firms, only 1% of advisors actively recommend crypto. At firms with supportive policies, that figure is 48%.

The average unmanaged exposure at restrictive firms reaches 34% of client crypto holdings. At supportive firms, it is just 4%.