Invisible Crypto Capital: a quarter of European managers cannot see their clients' assets
A new study among 261 wealth management professionals from France, Germany, Italy, Switzerland, and the UK has revealed a troubling trend: a significant portion of clients' digital assets remains outside the view of their financial advisors. Analysts at CoinShares have dubbed this phenomenon the "management gap" — and the scale of the problem is striking.
It turns out that for 25% of European advisors, more than half of a client's crypto portfolio is in a "gray zone." The situation is particularly acute in the UK, where this figure reaches 52%. In other words, British managers literally cannot see what their clients own in the digital space.
The Root of the Problem Lies Not in Ignorance, but in Policy
The key reason for this gap is not a lack of demand or expertise, but internal company restrictions. About 61% of surveyed professionals work at firms that either outright ban cryptocurrency transactions or lack clear regulations. In such organizations, advisors recommend digital assets 4.5 times less often than in companies with favorable policies. Clients, not waiting for official permissions, simply start investing on their own.
The head of CoinShares emphasized that capital is already allocated, but managers do not see it. The lack of transparency not only hinders adequate risk assessment but also undermines trust between the advisor and the client.
What Do They Expect from Regulators?
To rectify the situation, 45% of respondents expect official recognition of cryptocurrencies from regulators. Another 43% believe it is necessary to launch exchange-traded products (ETPs/ETFs). Notably, only 9% are interested in educational tools — the market is clearly voting for institutionalization rather than enlightenment.
Analysts expect that the entry into force of the MiCA regulations in July 2026 and the approval of cryptocurrency funds in Europe will help bridge this gap and bring assets back under the control of professional managers.
My comment: This survey is a clear confirmation that institutional demand for cryptocurrencies exists but is held back by outdated corporate policies. Once regulation gives the green light, we will see a powerful influx of capital that is currently just "sleeping" in invisible portfolios. MiCA will be the starting point for a new era of transparency in European crypto management.