European capital managers are losing sight of clients' crypto assets: the scale of the problem and solutions
A large-scale study conducted among 261 wealth management professionals in five leading European economies — France, Germany, Italy, Switzerland, and the United Kingdom — has revealed a worrying trend. A significant portion of clients are already actively investing in digital assets, but their financial advisors remain completely unaware of these investments.
CoinShares experts have identified this phenomenon as a "management gap." According to the data obtained, for 25% of European advisors, more than half of their clients' crypto portfolios are out of sight. In the UK, the situation is even more critical, with this figure reaching 52%. The root of the problem lies not in a lack of knowledge or low demand, but in the internal policies of the financial institutions themselves.
About 61% of surveyed professionals work in companies that either completely prohibit cryptocurrency transactions or lack clear regulations for dealing with them. In such organizations, advisors recommend digital assets 4.5 times less frequently compared to crypto-friendly firms. As CoinShares CEO Jean-Marie Mognetti noted, capital is already allocated, but managers simply do not see it. The lack of transparency hinders adequate risk assessment and undermines trust between the client and the advisor. Clients, not waiting for official permissions, have begun to act independently.
What could fix the situation?
To bridge this gap, 45% of respondents expect official recognition of cryptocurrencies from regulators. Another 43% consider the launch of exchange-traded products (ETP/ETF) to be a key factor. Notably, only 9% of those surveyed showed interest in educational tools, indicating a priority for institutional solutions over educational measures.
Analysts predict that the entry into force of the MiCA regulation in July 2026, as well as the approval of cryptocurrency exchange-traded funds in Europe, could radically change the situation. These steps will allow a significant portion of digital assets to be brought back under professional management and restore control.
My comment as an analyst: The CoinShares data is an alarming signal for the entire wealth management industry. The problem is not that clients do not want cryptocurrencies, but that the industry is still not ready to service them legally. Until regulation catches up with reality, we will see the growth of "shadow" portfolios, which poses risks for both investors and the advisors themselves. MiCA will be the foundation, but it alone is not enough — a change in corporate culture is needed.