A recent CoinShares survey of UK wealth advisors has found that over half lack oversight of their clients' crypto holdings.
The survey, which polled 261 professionals across Europe during Q1 2023, discovered that 52% of UK advisors reported managing less than half of their clients' digital asset holdings.
This 'management gap' is not due to a lack of knowledge about crypto, but rather firm-level policy restrictions. A staggering 61% of surveyed professionals work at firms with outright restrictions or unclear guidelines around digital asset advising.
According to CoinShares CEO Jean-Marie Mognetti, these rigid policies create 'wrong-way risk' by making invisible the risks associated with clients' self-managed crypto holdings.