Key Takeaways
- • The 2026 ASX Investor Study found 2.79 million Australians (24 per cent of investors) now hold or have traded cryptocurrency in the past 12 months, up from 15 per cent in 2023, though crypto averages only 4 per cent of portfolios across all investors.
- • State Street's 2026 Digital Assets Study found 56 per cent of APAC asset and wealth managers expect digital assets to become mainstream within five years, up from 11 per cent in 2024.
- • Financial advisers remain cautious: a prior CoreData survey found only 11 per cent of advisers had crypto or crypto ETFs on approved product lists, while 74 per cent had no access to these products and provided no related advice.
- • Advisers cite speculation, volatility, adviser liability and licensing uncertainty under ASIC guidance as the main barriers to recommending digital assets.
- • Advisers favour ASX-listed crypto ETFs over direct holdings for client exposure because they handle custody and operational requirements.
Summary
Financial advisers in Australia are taking a cautious approach to digital assets, even as client ownership has expanded. According to the 2026 ASX Investor Study, 2.79 million Australians now hold cryptocurrency or have traded it in the past 12 months, equivalent to 24 per cent of investors, up from 15 per cent in 2023. The asset class is especially popular with a younger cohort, but crypto still represents only 4 per cent of the average portfolio across all investors and 16 per cent of the portfolios of crypto investors.
Institutional sentiment is more optimistic. State Street's 2026 Digital Assets Study found that 56 per cent of APAC asset and wealth managers expect digital assets to become mainstream within five years, up from 11 per cent in 2024. Adviser behaviour, however, lags. A CoreData survey from the previous year found just 11 per cent of advisers had crypto or crypto ETFs on their approved product lists, while 74 per cent neither had access to these products nor provided related advice.
Advisers cite several constraints. Cameron Curko, chief investment officer at Pitcher Partners, said only a handful of clients raise crypto, often after seeing price gains or hearing about it socially, and he does not see it becoming a core holding. Dwayne Fernandes, senior financial adviser at Principal Edge, said digital assets sit closer to the speculative end, noting that price discovery and volatility make valuation harder than for stocks or bonds. Curko identifies adviser liability as a major restraint given potential losses, and notes Bitcoin has often behaved as a risk-on asset rather than a hedge against geopolitical or sovereign risk. ASIC's factsheet warns of uncertainty over licensing and compliance obligations, requiring advisers to assess whether an asset qualifies as a financial product and whether recommending it falls within their AFS licence authorisations. Australian Family Lawyers also flagged that digital assets complicate family wealth division in separation or succession, recommending binding financial agreements and thorough record-keeping.
On outlook, Adviser Ratings' 2025 Australian Financial Advice Landscape Report flagged crypto as a rising adviser-client topic, with 30 per cent of advised clients reportedly showing interest. Industry commentary suggests that interest may have plateaued in 2026, following Bitcoin's record high of over US$126,000 in October 2025. Fernandes said Principal Edge is not actively recommending digital assets, though ETFs would be the preferred route if it did. For clients seeking Bitcoin or Ethereum exposure, Curko pointed to ASX-listed crypto ETFs. He sees greater long-term promise in blockchain infrastructure, suggesting the technology could make share and asset registries more efficient.
Institutional sentiment is more optimistic. State Street's 2026 Digital Assets Study found that 56 per cent of APAC asset and wealth managers expect digital assets to become mainstream within five years, up from 11 per cent in 2024. Adviser behaviour, however, lags. A CoreData survey from the previous year found just 11 per cent of advisers had crypto or crypto ETFs on their approved product lists, while 74 per cent neither had access to these products nor provided related advice.
Advisers cite several constraints. Cameron Curko, chief investment officer at Pitcher Partners, said only a handful of clients raise crypto, often after seeing price gains or hearing about it socially, and he does not see it becoming a core holding. Dwayne Fernandes, senior financial adviser at Principal Edge, said digital assets sit closer to the speculative end, noting that price discovery and volatility make valuation harder than for stocks or bonds. Curko identifies adviser liability as a major restraint given potential losses, and notes Bitcoin has often behaved as a risk-on asset rather than a hedge against geopolitical or sovereign risk. ASIC's factsheet warns of uncertainty over licensing and compliance obligations, requiring advisers to assess whether an asset qualifies as a financial product and whether recommending it falls within their AFS licence authorisations. Australian Family Lawyers also flagged that digital assets complicate family wealth division in separation or succession, recommending binding financial agreements and thorough record-keeping.
On outlook, Adviser Ratings' 2025 Australian Financial Advice Landscape Report flagged crypto as a rising adviser-client topic, with 30 per cent of advised clients reportedly showing interest. Industry commentary suggests that interest may have plateaued in 2026, following Bitcoin's record high of over US$126,000 in October 2025. Fernandes said Principal Edge is not actively recommending digital assets, though ETFs would be the preferred route if it did. For clients seeking Bitcoin or Ethereum exposure, Curko pointed to ASX-listed crypto ETFs. He sees greater long-term promise in blockchain infrastructure, suggesting the technology could make share and asset registries more efficient.
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