"Blind Capital Management": A Quarter of European Advisors Do Not See Their Clients' Crypto Assets
A large-scale study among 261 financial advisors from five leading European economies — France, Germany, Italy, Switzerland, and the United Kingdom — has revealed an alarming phenomenon that I call "crypto-blindness" among professionals. The conclusion is clear: a significant portion of clients are already actively investing in digital assets, but their managers are completely unaware of it.
The Management Gap: Numbers and Geography
CoinShares experts have defined this as a "management gap." For 25% of European advisors, more than half of their clients' crypto portfolios are outside their visibility. The problem is particularly acute in the United Kingdom, where this figure reaches a staggering 52%. Essentially, capital has already been allocated, but professional managers cannot control it, assess risks, or provide adequate recommendations.
The Root of the Problem — Not Ignorance, but Corporate Bans
The cause is not a lack of knowledge or low demand, as one might assume. The main culprit is the internal policies of the financial organizations themselves. About 61% of respondents work in companies that either directly prohibit cryptocurrency operations or lack clear regulations. Under such conditions, advisors recommend digital assets 4.5 times less often than their colleagues at crypto-friendly firms. Clients, not waiting for official permission, simply act on their own, leaving advisors in the dark.
Transparency and Trust: What Do Markets Offer?
As CoinShares CEO Jean-Marie Mognetti rightly noted, the lack of transparency prevents proper risk assessment and undermines trust. To solve this problem, 45% of respondents expect official recognition of cryptocurrencies from regulators. Another 43% consider the launch of exchange-traded products (ETPs) a critically important step. Notably, only 9% are interested in educational tools — the market is waiting not for theory, but for clear rules of the game.
Forecast: MiCA and ETFs as a Lifeline
Analysts expect that the entry into force of the MiCA regulation in July 2026, as well as the approval of spot crypto funds in Europe, will radically change the situation. This will allow assets to be brought back under professional management, restoring transparency and trust. Let me remind you that in parallel, in the United States, institutional investors filing Form 13F reduced their positions in Bitcoin ETFs by 17% in the first quarter of 2026 — this is a signal of capital flowing into more regulated European instruments.
My expert opinion: The problem of "invisible" assets is not just a statistical curiosity, but a systemic risk for the wealth management industry. While advisors bury their heads in the sand of corporate bans, clients vote with their feet (and wallets), moving into the unregulated zone. MiCA and European ETFs are not a panacea, but the only realistic chance to bring this capital back into the legal field and restore trust.