60% of wealth managers plan crypto allocations

An industry survey of wealth-management professionals conducted this year found 60% of respondents plan to allocate client assets to cryptocurrencies. The sample included private banks, registered investment advisers and family offices.

Firms intend to offer crypto exposure through a range of vehicles, including direct holdings, pooled funds, exchange-traded products and structured notes. Respondents said they are not relying on a single approach and expect to use multiple options to match client needs.

Respondents cited growing client demand and a desire among advisers to expand asset choices as primary reasons for the planned allocations. Many managers pointed to improvements in custody services, third-party infrastructure and clearer compliance frameworks as factors that make crypto allocations more practical. Identified risks included market volatility, valuation challenges and ongoing regulatory uncertainty.

Implementation plans emphasize caution. Managers described initial allocations as small and targeted to clients who meet specific risk and accreditation requirements. Several firms said they will phase in exposure, testing custody arrangements, reporting processes and operational controls before widening access.

Operational and compliance work is underway at many firms. Executives are building or contracting cold and institutional-grade custody, enhancing accounting and tax reporting for digital assets, and updating suitability and disclosure policies. Some managers reported revisions to internal rules that address liquidity, counterparty risk and crypto market operations.

Market infrastructure and product availability are shaping timing and structure. The rollout of exchange-traded products and expanded institutional custody services were named as enablers for advisers seeking more predictable governance and reporting. Managers also highlighted the need for clearer regulatory guidance and consistent tax treatment across jurisdictions.

Survey respondents split on crypto’s role in client portfolios: some view it as a complementary asset for diversification while others plan to remain cautious until regulatory and valuation issues are resolved. Interest from advisers has risen as custodians, fund sponsors and exchanges have launched offerings aimed at professional investors, and regulators in several countries have issued or updated guidance; differences in regulatory approaches continue to influence how managers plan and execute crypto strategies.