52% of UK asset managers unaware of most client crypto holdings, CoinShares finds

A CoinShares survey of 261 asset management professionals across five European countries found that 52% of respondents in the United Kingdom believe their advisory firms are unaware of more than half of their clients' cryptocurrency holdings. This figure stood at 25% across all five countries surveyed, which also included France, Germany, Italy, and Switzerland. The survey also revealed that 61% of respondents work for companies that either restrict the handling of cryptocurrencies or lack internal guidelines on the matter. While 48% of respondents said they would actively recommend crypto if their company had clear support guidelines, only 1% would do so at firms with an explicit ban. When asked what would encourage them to increase crypto recommendations, respondents most frequently cited recognition of the asset class as mainstream by regulators (45%) and expanded access to exchange-traded products (ETPs) at 43%. In contrast, only 9% pointed to the need for educational materials for clients.