Key facts
- A CoinShares survey found that 54% to 70% of wealthy investors across seven major economies own digital assets.
- In five of seven surveyed countries, at least 85% of existing crypto investors plan to increase their exposure in 2026.
- About four in 10 surveyed investors with advisers described them as overly cautious about digital assets.
- OKX raised an undisclosed amount at a $25 billion valuation, extending a funding round that included $200 million from Intercontinental Exchange in March.
- Strategy spent $176.3 million repurchasing 1.77 million STRC shares last week.
- Strategy's Bitcoin holdings rose only 0.2% in the third quarter.
Wealthy investors are increasingly adopting cryptocurrencies, with a majority across seven major economies already owning digital assets and many planning to increase their holdings, according to a new CoinShares survey. The survey of 2,230 investors with at least $500,000 in investable assets found crypto ownership ranging from 54% in Sweden to approximately 70% in the US, UK, Germany, and Switzerland. In five of the surveyed countries, at least 85% of existing crypto investors indicated plans to boost their exposure in 2026.
However, the survey also highlighted a disconnect between investors and their financial advisers, with about 40% of respondents in Switzerland, France, the US, and Germany describing their advisers as overly cautious about digital assets. Ric Edelman, founder of the Digital Assets Council of Financial Professionals, suggested that current crypto allocations are more commonly between 2% and 5%, though he recommends 10% to 40% depending on risk tolerance.
Meanwhile, the crypto market faces headwinds from elevated Treasury yields. Bitcoin, despite achieving its best third quarter since 2017 with a 43% gain, is encountering resistance due to the Federal Reserve's rate hikes and multi-decade high Treasury yields, according to Delphi Digital. However, Vanessa Grellet of Arche Capital noted that the debasement trade, which favors scarce assets like Bitcoin as a hedge against currency devaluation, is not contingent on low interest rates.
Recent economic data, including lower-than-forecasted September payrolls (29,000 jobs added), has reduced the likelihood of an October rate hike, with New York Fed President John Williams stating no urgency for further increases. Despite this, elevated Treasury yields remain a challenge for risk assets, with Bitcoin briefly surpassing $87,000 before retreating below $83,000.
In the exchange sector, OKX has secured additional funding at a $25 billion valuation, extending a previous round that included $200 million from Intercontinental Exchange. Existing investors, including SC Ventures, Qube Research & Technologies, Ripple, and Circle, participated in the extension. OKX is also pursuing traditional financial markets, with a joint venture filing for a tokenized stock trading platform with the SEC.
Separately, Strategy has shifted its capital allocation, spending $176.3 million on repurchasing 1.77 million STRC shares last week, more than six times the $28.7 million spent on acquiring 334 Bitcoin. This move has slowed Strategy's Bitcoin accumulation, with holdings increasing by only 0.2% in the third quarter. Strategy is also seeking shareholder approval to pay daily dividends on its STRC shares, starting in November if approved.