Invisible crypto assets: one in four asset managers in Europe is unaware of clients' digital portfolios
The digital asset market is facing a paradoxical situation: clients are already actively investing in cryptocurrencies, but their advisors remain completely in the dark. This is confirmed by a recent study covering 261 wealth management professionals from France, Germany, Italy, Switzerland, and the UK. The main finding is that more than a quarter of European advisors do not see a significant portion of their clients' crypto portfolios.
Experts have dubbed this phenomenon the "management gap." In the UK, the situation is particularly critical: 52% of managers admitted that more than half of their clients' digital assets are outside their control. Across Europe, this figure averages 25%.
The root of the problem is not ignorance, but company policy
Many might assume the cause lies in a lack of knowledge about cryptocurrencies or low demand. However, the data shows otherwise: about 61% of respondents work in organizations that either completely ban operations with digital assets or lack clear rules for dealing with them. In such companies, advisors recommend cryptocurrencies 4.5 times less often than in firms with favorable policies. Clients, not waiting for official permissions, simply started acting on their own.
CoinShares CEO Jean-Marie Mognetti rightly notes that 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 systemic problem requiring institutional solutions.
What will help bring assets back under control?
Market participants see a solution in two key areas. 45% of respondents await official recognition of cryptocurrencies by regulators, while 43% consider the launch of exchange-traded products, such as ETFs, necessary. Notably, only 9% of respondents are interested in educational tools — this indicates that the problem lies not in a lack of understanding of the technology, but in infrastructural barriers.
Analysts expect that the entry into force of MiCA regulations in July 2026 and the approval of crypto funds in Europe will be a turning point. These measures will help close the gap and bring assets back under professional management.
My comment: The study data confirms that institutional inertia is the main enemy of cryptocurrency adoption. Clients vote with their feet (and wallets) while advisors wait for regulatory signals. Those companies that first implement transparent rules for working with digital assets will gain a competitive advantage and client trust.