Wealthy Investors Deepen Crypto Bets Despite Market Volatility

• Digital asset ownership ranges from 54% to 70% among affluent investors surveyed across seven markets.
• At least 85% of existing holders in five countries intend to increase cryptocurrency exposure during 2026.
• Wealth management demand is growing, with 69% considering specialist advisers and 88% acknowledging knowledge gaps.
• Interest rates, inflation and fiscal uncertainty are influencing portfolio decisions alongside long-term investment objectives.

Affluent investors are allocating meaningful portions of their portfolios to digital assets, with most existing holders planning to increase exposure despite cryptocurrency market volatility, according to new research from CoinShares.

The asset manager’s 2026 investor survey found that cryptocurrency ownership ranges from 54% among wealthy respondents in Sweden to 70% in the United States, United Kingdom and Germany. Average allocations cluster around 10% across the seven markets studied.

The findings suggest that digital assets are increasingly being evaluated within broader wealth management strategies, where diversification, long-term returns and access through regulated financial intermediaries influence investment decisions.

The research also coincides with CoinShares’ October 8 market commentary, which examines the implications of government borrowing costs and changing macroeconomic expectations for digital asset markets.

CoinShares manages and distributes cryptocurrency investment products and therefore has a commercial interest in the sector’s development. Its survey measures self-reported investor preferences rather than independently verified portfolio transactions.

Crypto Ownership Extends Beyond Speculative Trading

The study, conducted with Vardaxoglou Advisory, surveyed 2,230 investors in the US, UK, France, Germany, Italy, Sweden and Switzerland between May 11 and June 5, 2026.

Participants held at least $500,000 in investable assets, excluding real estate, and had completed an investment transaction within the preceding 12 months. Half held between $500,000 and $999,999, while the remainder had at least $1 million.

Among digital asset holders, long-term capital appreciation and portfolio diversification together accounted for approximately 40% of primary investment motivations.

Interest in cryptocurrency technology and related applications represented 19%, while hedging accounted for 13%. Short-term speculation accounted for 9%.

These motivations suggest that cryptocurrency ownership is not driven exclusively by short-term price movements. However, a long investment horizon does not necessarily indicate a conservative risk profile, particularly when volatile assets represent a significant share of investable wealth.

Bitcoin remains the most widely held cryptocurrency, owned by approximately 80% of surveyed digital asset investors. Yet 89% of Bitcoin holders also reported owning other digital assets.

For wealth managers, this creates a portfolio construction challenge. Holding several cryptocurrencies does not guarantee effective diversification because correlations between digital assets can increase sharply during market downturns.

Investment Intent Varies Across Seven Markets

Existing cryptocurrency holders generally expect to add to their positions during 2026, although the strength of that intention differs across countries.

In the United States, United Kingdom and Germany, 91% of current holders said they were likely to increase exposure. France and Italy followed at 87% and 85%, respectively, while Switzerland and Sweden recorded lower figures.

The survey also examined how the February 2026 cryptocurrency downturn affected investment sentiment. In every market, more respondents reported becoming willing to invest than becoming less willing.

The comparison below separates current ownership, future investment intentions and reactions to the downturn.

Crypto Ownership and Investment Intent Across Seven Markets

Wealth Managers Face a Growing Advisory Gap

The survey suggests that demand for digital asset expertise is expanding beyond investors who manage their cryptocurrency holdings independently.

Approximately 55% of respondents preferred intermediated access through brokerage platforms, exchange-traded products or custodial wealth management services rather than direct cryptocurrency exchanges.

Trust and brand recognition ranked ahead of low fees when investors assessed providers.

Meanwhile, 69% said they would consider working with a wealth manager specializing in digital assets, while 88% acknowledged that they lacked sufficient knowledge to invest with complete confidence.

Among current investors open to advisory services, 98% expressed willingness to pay for professional support.

The findings point to a potential commercial opportunity for private banks, financial advisers and investment platforms. Clients increasingly need guidance on custody, portfolio concentration, product structure and the tax treatment of digital assets.

However, the survey also identifies a gap between client expectations and existing advisory practices.

Approximately four in ten respondents working with advisers in Switzerland, France, Germany and the US considered their advisers excessively cautious about cryptocurrency.

That perception does not necessarily indicate poor advice. Financial advisers must consider suitability, liquidity needs and the possibility of substantial losses, even when clients express confidence in an asset class.

The challenge is to distinguish justified risk controls from an inability to provide informed guidance.

Bond Market Pressure Complicates Crypto Allocations

CoinShares’ October 8 market update adds a macroeconomic dimension to the survey’s findings.

Government borrowing costs, inflation expectations and fiscal sustainability are increasingly relevant to cryptocurrency investment decisions, particularly for investors assessing digital assets alongside bonds, equities and alternative investments.

The survey found that interest rates and inflation influenced investment decisions for an average of 47% of respondents across the seven markets. Changes in the global economic order were cited by 41%, compared with 36% for technical analysis.

Higher Treasury yields can affect Bitcoin through several channels.

Government bonds become more attractive when investors can obtain higher income from comparatively lower-risk securities. Rising financing costs can also restrict liquidity and reduce demand for volatile assets.

However, the underlying cause of higher yields is important.

CoinShares Head of Research James Butterfill has argued that yields driven by stronger economic activity may have different implications for Bitcoin than those associated with concerns about fiscal sustainability.

In the latter case, some investors may consider Bitcoin an alternative monetary asset.

That interpretation remains conditional. Bitcoin has not demonstrated a consistently reliable ability to protect portfolios against fiscal deterioration, and periods of financial stress can trigger selling across both conventional and digital asset markets.

For private wealth investors, the relevant question is therefore not simply whether Bitcoin can appreciate over several years, but how it behaves alongside other holdings when borrowing costs rise and liquidity contracts.

What Will Determine Whether Crypto Allocations Keep Growing?

The survey establishes substantial interest among affluent investors, but future portfolio allocations will depend on market conditions and the ability of financial intermediaries to meet client demand.

Four developments are particularly relevant:

• Actual investment activity: Survey responses describe intentions rather than completed purchases. Changes in managed portfolio allocations, direct cryptocurrency holdings and investment product flows will provide stronger evidence of whether investors are increasing exposure.
• Interest rates and liquidity: Higher bond yields can increase the opportunity cost of holding non-yielding assets. Changes in monetary policy, financing conditions and market liquidity may influence the timing and size of cryptocurrency allocations.
• Wealth management capabilities: Investors seeking regulated custody, portfolio advice and tax guidance may increasingly favor firms offering dedicated digital asset services. Product availability alone will not determine whether those relationships develop.
• Portfolio resilience: The behavior of Bitcoin and other cryptocurrencies during future market downturns will help investors assess whether their allocations provide diversification or amplify existing portfolio risks.

The findings also have methodological limitations. CoinShares commissioned and funded the research, participants were recruited through an online survey, and responses were self-reported.

The sample represents selected affluent investors who had recently undertaken investment activity, not the wider population of wealthy households.

Even with those qualifications, the research shows that digital assets have become a meaningful component of investment planning for many respondents.

For wealth managers, the commercial opportunity lies in helping clients integrate cryptocurrency exposure into portfolios already affected by equity valuations, government bond yields and changing macroeconomic conditions.