UK Financial Advisers Struggle with Clients' Cryptocurrency Holdings

A recent survey by CoinShares found that more than half of UK-based financial advisers reported being unaware of the majority of their clients' cryptocurrency holdings.

The survey, which polled 261 European wealth management professionals, including those in France, Germany, Italy, and Switzerland, revealed that 52% of UK advisers said their clients' crypto assets were 'invisible' to them.

This is significantly higher than the 25% average among all EU countries surveyed, with 61% of advisers working for companies that restrict or have no clear guidance on digital assets.

CoinShares co-founder and CEO Jean-Marie Mognetti stated that 'visibility comes before advice,' emphasizing that managers cannot allocate or manage risk over assets they cannot see.