CoinShares published survey data showing that 52% of UK wealth advisers report a major gap in visibility over client crypto holdings. The finding points to a practical problem: advisers managing portfolios don't know what digital assets their clients own outside traditional brokerage systems.
The visibility gap matters because advisers typically need to understand total client holdings to meet suitability and fiduciary standards. If an adviser can't see crypto exposure, they can't assess whether overall risk and asset allocation are appropriate. A client might hold concentrated Bitcoin positions while the adviser thinks they're fully diversified across stocks and bonds.
CoinShares didn't publish full survey methodology or sample size in the available reporting, so the exact scope of the respondent pool remains unclear. The survey captures self-reported perception from UK advisers, not verified data on how firms track or fail to track crypto across their client base.
The gap likely reflects structural friction. Many advisers still use legacy portfolio-management systems that don't integrate crypto wallets or exchanges. Clients may hold digital assets in self-custodied wallets or on retail platforms entirely outside the adviser's view. Even advisers interested in tracking exposure face a fragmented ecosystem where crypto data doesn't feed smoothly into standard wealth-management software.
Some advisers may simply avoid the issue. Crypto remains a compliance minefield for traditional wealth firms. Regulatory clarity on how advisers should treat client digital assets has lagged behind market adoption, and some firms may prefer plausible deniability over the work of integrating crypto into their risk framework.
The finding underscores why custodians and fintech platforms offering integration tools for crypto exposure have gained traction in the sector. If advisers can't see what clients hold, they can't advise responsibly, and firms face potential liability for suitability failures.