Wealth managers are preparing more crypto allocations
For years, wealth managers kept digital assets at the edge of their portfolios. That may now be changing. After a Bitwise presentation attended by about 400 professionals, 60% said they expect to invest in these assets within the next twelve months.
Still, 67% have made no allocation so far. Interest is growing, but internal limits, familiar investment products, and lingering caution continue to slow wider adoption. XRP drew particular attention and sparked many questions.
Wealth managers in suits sit around a table covered with computers and files while a screen shows Bitcoin, Ethereum, and rising price charts.
Key points
Of the 400 managers surveyed after the Bitwise presentation, 60% expect to allocate funds within a year, while 67% have no crypto exposure.
XRP drew the most questions during the presentation. Its US ETFs had received $1.68 billion in total inflows since November 2025.
A Nickel study found that 84% of surveyed institutional investors believe ETPs are helping digital assets gain wider acceptance, even as regulatory, operational, and liquidity issues remain.
Henley & Partners counts 135,694 digital asset millionaires worldwide. That figure includes 92,272 Bitcoin millionaires among 742 million digital asset holders.
67% remain out, but 60% are preparing to enter
Ryan Rasmussen, Bitwise's head of research, shared three figures that capture the current mood. Among the fund managers surveyed, 67% have not allocated money to crypto. Yet 60% expect prices to finish the year higher, and the same share plans to invest within the next twelve months.
The survey needs some context. It covered people who attended a Bitwise presentation rather than a representative sample of the whole investment industry. Also, an stated intention does not guarantee an actual purchase.
One result shows which assets are drawing attention in trading rooms. Rasmussen said XRP prompted more questions than the other assets in the presentation. Its US spot ETFs recorded eleven straight sessions of net inflows through September 1, totaling about $170 million. Since November 2025, their combined inflows had reached $1.68 billion.
Goldman Sachs, Jane Street, and Millennium Management are also listed among the reported holders. Those positions do not show why the firms bought the products or whether they expect XRP prices to rise. For now, interest is clearer than firm belief.
Crypto ETPs make access easier, but the old barriers remain
Buying a digital asset directly brings questions about custody, technical systems, and firm procedures. ETPs change that process. For investment committees used to listed securities, these products feel far more familiar.
A July study by Nickel Digital shows the shift. The firm surveyed 203 institutional investors and wealth managers. Of those respondents, 55% said they were very likely to use crypto ETPs for the first time within the next two years. Another 84% said ETP growth would bring digital assets into standard portfolio models within three years.
Crypto ETPs are becoming a useful link between traditional finance and digital assets. They offer access through products that are familiar, clear, and easier to manage. That helps investment committees discuss adding digital assets to established portfolios.
Anatoly Crachilov, head of Nickel Digital.
The door is opening, but several barriers remain. Regulatory uncertainty concerns 52% of respondents. Market and custody risks trouble 44%, while 40% point to limited liquidity and trading costs.
Why professional investors prefer listed products
A separate Coinbase and EY-Parthenon survey offers another explanation. Among 351 institutional investors, 66% already held spot ETFs or crypto ETPs, while 81% preferred gaining exposure through a registered product.
The appeal has less to do with enthusiasm for financial acronyms than with fit. Listed products work within systems that investment firms already use. At Nickel, 28% of respondents named easier approval from an investment committee or board as the main reason for choosing them. Liquidity and transparency followed at 21%, while simple operations and custody accounted for 20%.