The news: Two-thirds of UK consumers (66%) say they are aware of cryptocurrencies, and 29% of those who are aware of them have invested in them—demonstrating that cryptos have become part of the financial services mainstream, per a Coinbase 2021 survey.
What about ownership? Further trends in the survey data augur continued growth in crypto ownership in the UK, given the high proportion of new investors and high engagement among investors.
The bigger picture: We expect more incumbent investment managers, like wealth managers, to react to growing investor crypto interest by offering exposure to their clients in 2022.
Crypto exchanges also have an opportunity to scoop up business from this lucrative segment by tailoring their offerings to HNWIs and adding the high-touch experience that these clients are accustomed to. For example, the premium offering from Singapore-based exchange Coinhako offers clients access to a dedicated relationship manager.