Affluent investors holding at least $500,000 in investable assets outside real estate are eager to expand their digital asset portfolios, but roughly 4 in 10 respondents with an adviser across four key markets believe their wealth managers are overly cautious, according to a CoinShares survey published October 5.
The study polled 2,230 high-net-worth individuals across seven major markets: the US, UK, France, Germany, Italy, Sweden, and Switzerland. Across these jurisdictions, between 54% and 70% of respondents already hold digital assets, and 71% to 91% of current holders plan to add exposure this year. Despite this enthusiasm, 88% concede they lack the knowledge to invest with complete confidence. To bridge this gap, 69% would consider working with a crypto-savvy wealth manager, and 98% of those open to guidance are willing to pay for it. In the US and UK, traditional wealth managers lead most other information sources on trust by 25 to 30 points.
Corporate Restrictions Silence Advisory Firms
Investor demand is running into rigid firm policies. A prior CoinShares survey from June covering 261 wealth professionals in France, Germany, Italy, Switzerland, and the UK revealed that 61% work at firms that restrict digital assets or lack clear internal guidance. Active crypto recommendation rates stood at 48% at supportive firms, falling to just 1% at restrictive institutions. Consequently, 25% of advisers overall—and 52% of UK advisers—reported that more than half of their clients' crypto holdings sit outside their visibility, mirroring wider market shifts where investors move funds to offshore options.
Advisers cited asset volatility (56%) and speculative characteristics (52%) as the primary reasons they believe clients hesitate. However, advisers noted that regulatory recognition (45%) and expanded exchange-traded product access (43%) would most effectively boost their confidence. CoinShares CEO Jean-Marie Mognetti emphasized the commercial risk for wealth firms, noting, "Clients did not wait for permission. Every month a firm remains silent, more of its clients’ wealth migrates beyond its advice, its visibility and ultimately its economics."
Why It Matters
The disconnect between strong investor appetite and cautious wealth managers highlights a structural bottleneck in traditional finance. As high-net-worth individuals actively seek crypto exposure, restrictive firm policies risk driving valuable client assets outside the traditional wealth management ecosystem. To avoid losing market share and fee revenue, wealth managers will need clearer institutional frameworks and expanded access to regulated investment vehicles.
Key Takeaways
- 40% of advised high-net-worth investors consider their wealth managers overly cautious on crypto.
- 71% to 91% of active crypto owners plan to increase exposure this year, yet 88% acknowledge knowledge gaps.
- 61% of surveyed advisers work under firm policies that restrict digital asset advice or lack guidelines.
- 52% of UK wealth managers report that over half of their clients' crypto holdings remain outside their advisory view.
