"Blind Management": A quarter of European consultants do not see their clients' crypto assets
A recent study conducted among 261 wealth management specialists in five European countries — France, Germany, Italy, Switzerland, and the United Kingdom — has uncovered a troubling phenomenon that I call the "crypto-blindness" of financial advisors. It turns out that a significant portion of clients are already actively investing in digital assets, but their trusted managers are not even aware of it.
The Management Gap: Shocking Numbers
CoinShares experts define this situation as a "management gap." And the data is indeed striking: for 25% of European advisors, more than half of their client's crypto portfolio is off their radar. The problem is particularly acute in the UK, where this figure reaches 52%. This is not just a statistical anomaly — it is a systemic failure in communication between the investor and their financial advisor.
The root of the problem, as the data shows, lies not in a lack of knowledge or low demand, but in corporate policy. About 61% of respondents work for firms that either completely ban cryptocurrency transactions or lack clear regulations. In such organizations, advisors recommend digital assets 4.5 times less often than their colleagues in companies with favorable policies. Clients, not waiting for official approvals, simply act on their own.
Capital Is Already in Play, But Without Oversight
CoinShares CEO Jean-Marie Mognetti rightly notes: capital has already been allocated, but managers do not see it. The lack of transparency not only hinders adequate risk assessment but also undermines trust between the client and the advisor. This is a classic example of regulation lagging behind market reality.
Interestingly, to solve the problem, 45% of respondents are waiting for regulatory recognition of cryptocurrencies, while 43% consider the launch of exchange-traded products (ETP/ETF) key. At the same time, only 9% showed interest in educational tools — this indicates that the professional community is still betting on external factors rather than its own development.
MiCA and ETFs as a Lifeline
CoinShares analysts expect that the entry into force of the MiCA rules in July 2026 and the approval of cryptocurrency funds in Europe will help close this gap. I support this forecast: clear regulatory frameworks and liquid instruments will inevitably bring assets back under the control of professional managers. However, it should not be forgotten that in the first quarter of 2026, institutional investors filing 13F forms reduced their positions in U.S. spot Bitcoin ETFs by 17%. This is a signal: even with instruments in place, trust takes time.
My conclusion: "invisible" crypto assets are not a technology problem, but a management culture problem. As long as financial advisors fail to speak the same language as their clients and do not get the green light from their companies, the gap will only grow. MiCA is a step forward, but real change will only begin when advisors stop fearing digital assets and start integrating them into portfolios professionally.