Wealth managers are preparing to increase investment in cryptocurrencies

Wealth management: Digital assets are moving from the edge to the core

Wealth managers have long placed digital assets on the edge of their portfolios. However, this trend may be reversing. After Bitwise presented a presentation to approximately 400 professionals, 60% of participants said they planned to deploy digital assets over the next twelve months. Despite this, 67% of people currently do not have any relevant exposure. Between curiosity, internal restrictions, and more familiar investment vehicles, cryptocurrencies, while not yet fully winning the market, are gradually expanding their influence. Among them, XRP has attracted a lot of attention. [TAG

Core Summary

• Of the 400 managers surveyed after Bitwise's presentation, 60% plan to deploy within the year, while 67% currently have no exposure to digital assets. [TAG
• XRP elicited the most questions during the presentation; its US spot ETF has accumulated inflows of $1.68 billion since November 2025.
• Nickel Digital's research shows that despite regulatory, operational and liquidity barriers, 84% of institutional respondents believe exchange-traded products (ETP) will regularize digital assets.
• A report by Henley & Partners estimates that there are 135,694 crypto millionaires worldwide, including 92,272 Bitcoin millionaires, with a total of approximately 742 million holders.

Wait and see coexist with action: 67% are still outside the door, 60% are ready to enter

Ryan Rasmussen, director of research at Bitwise, released three results that provide a good summary of current market sentiment. Among the managers surveyed, 67% have not yet made any configuration for cryptocurrency. Among the same group, 60% believe prices will rise before the end of the year, and the same proportion plan to invest in the next twelve months.

This survey result deserves attention, but it reflects the mentality of participants participating in the Bitwise demonstration, rather than a representative sample of the entire industry. Intention is not the same as a purchase order. However, one detail still reveals the focus of the discussion: According to Rasmussen, XRP raises more questions than other display assets. As of September 1, its U.S. spot ETF had had net inflows for 11 consecutive trading days, approximately US$170 million. Since November 2025, its cumulative inflow has reached US$1.68 billion.

Institutions such as Goldman Sachs, Jane Street and Millennium Management also appear on the position list. However, these positions did not reveal why they held these products, nor did they prove whether they were really optimistic about the increase in XRP prices. For now, curiosity is not enough to transform into firm belief.

Cryptographic ETP is opening the door, but old barriers still exist

Direct purchase of digital assets involves a range of issues such as custody, infrastructure and internal procedures. ETP has just changed this mechanism. For investment committees accustomed to listing products, the terrain here seems less unfamiliar.

A study of 203 institutional investors and wealth managers conducted by Nickel Digital in July made this clear. 55% of respondents said they are very likely to use encrypted ETP for the first time in the next two years. Another 84% believe that with the development of ETP, digital assets will be integrated into the classic asset allocation model within three years.

"Crypto-ETP is becoming an important bridge between traditional finance and digital assets. By providing familiar, transparent and easy-to-use access, they help investment committees incorporate digital assets into traditional portfolio discussions."-- Anatoly Crachilov, CEO of Nickel Digital.

As a result, the door is being opened, but the lock has not been removed. Regulatory uncertainty still hinders 52% of respondents. Market or custody risk worried 44%, while 40% pointed to issues of liquidity and transaction costs.

Why professional investors choose to list products rather than directly hold

Another survey conducted by Coinbase and EY-Parthenon of 351 institutions provides clues: 66% of institutions already hold spot ETFs or crypto ETPs, and 81% prefer to access digital assets by registering compliant tools.

This choice was not so much a sudden enthusiasm for acronyms as a result of their compatibility with the existing financial system. Among Nickel's survey respondents, 28% cited "easy access to committee or board approval" as the main reason for using these products. This was followed by liquidity and transparency (21%), followed by ease of operation and custody (20%).

Expectations are also changing. 87% of Nickel respondents believe that the growth of ETP will drive demand for actively managed fund managers and hedge funds. Multi-asset crypto baskets are the most expected and fastest-growing product type (45%), followed by actively managed ETFs (43%). The proportion of products related to pledges was 39%.

Markets are thus approaching traditional management habits: funds, fees, committees, manager selection. Technology is changing, but the pattern of asset allocation meetings has changed little.

135,694 crypto millionaires are changing the discourse of wealth management

The industry is not only looking at products, but also tracking customer groups that have accumulated huge amounts of wealth. Henley & Partners listed 135,694 crypto millionaires in its 2026 report. Among them, 92,272 people hold at least US$1 million in Bitcoin. The report also counted 290 people with digital assets of $100 million or more, as well as 23 billionaires.

According to statistics, a total of 742 million people hold digital assets. This wealth has one special feature: it is easier to flow than its owners.

"Cryptocurrencies can be borderless, but the families that own them are not. They continue to live, pay taxes, educate their children, and operate within the national legal and regulatory system."-- Dominic Volek of Henley & Partners.

This reality has also exacerbated competition between jurisdictions. Singapore ranks among the top of Henley's adoption index for the fourth consecutive year. United Arab Emirates ranked second, ahead of Hong Kong and the United States. For managers, configuration now touches not only on the product itself, but also on taxes, residency and wealth mobility.

Critical Data Review

• 67% of managers surveyed by Bitwise do not currently have digital assets deployed.
• 60% plan to deploy within the next twelve months.
• Since November 2025, the cumulative inflow of XRP ETF has reached US$1.68 billion.
• 84% of Nickel respondents expect to be normalized through ETP within three years.
• 135,694 millionaires hold at least US$1 million in digital assets.

Traditional finance is gradually moving closer to cryptocurrencies through its compliance tools and familiar processes. However, this sense of closeness did not reassure everyone. The European Securities and Markets Authority (ESMA) is now monitoring the bridge between the two markets and potential contagion effects. As boundaries blur, investment opportunities grow; at the same time, the risk of shocks being transmitted from one area to another also increases.