Crypto Biz: Wealthy investors are buying crypto, but their advisers aren’t sold

Wealthy Investors Flock to Crypto, While Advisers Remain Skeptical

Market Trends

Wealthy investors are increasingly comfortable with crypto, with a majority holding digital assets and planning to increase their exposure. OKX has raised additional funding at a $25 billion valuation, while Strategy has shifted capital toward preferred stock buybacks. Bitcoin's rally faces resistance from elevated Treasury yields and the Federal Reserve's September rate hike.

Crypto Ownership

A new CoinShares survey found that a majority of affluent investors across seven major economies hold digital assets, with crypto accounting for about 10% of their portfolios on average. Crypto ownership ranged from 54% in Sweden to roughly 70% in the US, UK, Germany, and Switzerland. In five of the seven countries, at least 85% of existing crypto investors said they planned to increase their exposure in 2026.

Market Performance

Bitcoin briefly climbed above $87,000 last week before pulling back to below $83,000 on Wednesday. OKX's funding round brought in $200 million from Intercontinental Exchange, while Strategy spent $176.3 million repurchasing 1.77 million STRC shares.

Regulatory Environment

The Federal Reserve's September rate hike and elevated Treasury yields remain a hurdle for risk assets. However, the outlook for rates has shifted since then, with September payrolls showing just 29,000 jobs added, well below forecasts of 80,000. New York Fed President John Williams also said there was no urgency to raise rates again.

Expert Insights

Ric Edelman, founder of the Digital Assets Council of Financial Professionals, questioned the survey's finding that crypto accounts for 10% of the average portfolio, saying his research suggests current allocations of 2% to 5% are more common. Even so, Edelman recommends much larger allocations of 10% to 40%, depending on an investor's risk tolerance.