A survey released June 26 by CoinShares reveals that 52% of wealth advisors in the UK cannot see the majority of their clients' cryptocurrency assets, compared with an average of just 25% across France, Germany, Italy and Switzerland. The study, based on responses from 261 wealth management professionals across Europe, highlights a sharp disconnect between advisor visibility and actual client exposure.
Internal Policies Seen as Top Obstacle; 61% Report Employer Restrictions
Some 61% of all participants said their employers either explicitly limit digital asset exposure or lack clear internal guidelines for handling them. CoinShares co-founder and CEO Jean Marie Mognetti commented: “Clients’ capital has already found its way into crypto, but those responsible for managing these assets often cannot see them at all. The issue is not a lack of information or weak client demand, but a result of increasingly restrictive internal company policies.” CoinShares, a European digital asset investment firm known for institutional products, assesses that while client interest in crypto remains robust, in-house policies hamper advisors from gaining a comprehensive view of portfolios.
FCA Data Shows Growing Adoption: 8% of UK Adults Own Crypto, Funds May Allocate 10%
The UK Financial Conduct Authority (FCA) announced in December that approximately 8% of UK adults have invested in crypto assets. In a recent policy proposal, the FCA also suggested allowing authorized investment funds to allocate up to 10% of their portfolios to crypto exchange-traded notes (ETNs). These developments signal regulatory momentum for institutional involvement, yet the survey shows advisor-level policy implementation still lags far behind.
Political Shift: Labour Leadership Contest Looms, Blockchain Supporter Emerges
The report also touches on UK political changes: Labour Party leader Keir Starmer has stepped down as Prime Minister, triggering a leadership contest within the party. Andy Burnham, newly elected to Parliament in a by-election, is touted as a front-runner to succeed Starmer. Burnham’s national stance on crypto remains unclear, but during his tenure as Mayor of Greater Manchester, he supported blockchain as an avenue for economic growth. The political transition could introduce new variables for crypto policy direction.
CoinShares' research underscores that while client capital has already entered the market, many advisors remain unable to adequately track these positions due to restrictive company policies. As the regulatory environment continues to evolve and political shifts loom, how advisors and financial institutions adapt their internal policies will prove critical for mainstream integration of digital assets in the UK.