Crypto is no longer just a talking point in client meetings — it’s increasingly becoming a standard line item in portfolios.
A new survey from Bitwise and VettaFi shows that 32% of financial advisors allocated to crypto in client accounts in 2025, up sharply from 22% the year before and the highest level ever recorded in the survey. The shift reflects how digital assets have moved closer to the financial mainstream.
The jump follows a standout year for crypto markets. Bitcoin surged to a $126,000 all-time high, while progress on U.S. regulation helped calm long-standing concerns. The report pointed in particular to the passage of the GENIUS Act, which pushed stablecoins further into everyday financial use.
Bitwise and VettaFi collected 299 eligible responses between October 31 and December 8, 2025, surveying a broad mix of advisors — from registered investment advisors (RIAs) to wirehouse and broker-dealer representatives.
RIAs Are Leading the Shift
Client interest remains strong, and advisors are feeling it. According to the survey, 94% of advisors were asked about crypto by clients in 2025, and 56% said they personally own crypto, another record for the dataset.
Adoption varies widely depending on where advisors work. RIAs are clearly out front, with 42% saying they allocate to crypto in client portfolios. Wirehouse advisors followed at 35%, while other financial professionals came in at 33%. Independent broker-dealer reps reported a 25% allocation rate, and financial planners trailed at 18%.
Access is also improving — slowly but steadily. The share of advisors who said they can buy crypto in client accounts rose to 42% from 35% in 2024. Still, more than half of advisors said they either can’t access crypto for clients or aren’t sure whether they can, highlighting how operational barriers remain a major hurdle.
Cautious Sizing, Growing Confidence
Many clients aren’t waiting for advisors to move first. Advisors reported that 74% of clients invested in crypto outside the advisory relationship in 2025, up from 71% a year earlier. Those “held-away” assets represent both a challenge and an opportunity for firms looking to bring crypto into a more holistic wealth plan.
When crypto does show up in portfolios, it’s still sized conservatively. The survey found that 83% of crypto-exposed client portfolios held less than 5% in crypto. At the same time, allocations are gradually inching higher: 64% of portfolios held more than 2% in crypto, up from 51% in 2024.
To fund those positions, advisors tend to rebalance from familiar places. Equities were the most common source, cited by 43% of respondents, followed by cash at 35%. Smaller shares said they trimmed commodities, bonds, or gold.
What Comes Next
Looking ahead, growth may come from advisors who have so far stayed on the sidelines. Among those not currently allocating to crypto, 18% said they definitely or probably plan to add exposure in 2026, while another 38% said they are actively considering it. Among advisors already using crypto, nearly everyone — 99% — plans to maintain or increase exposure.
Product choice is also becoming clearer. Advisors continue to favor familiar, regulated vehicles, with crypto equity ETFs topping the list for 2026. Spot crypto ETFs followed at 16%, along with diversified crypto index funds (14%), multi-strategy solutions (13%), and income-focused crypto strategies (9%).
Despite the progress, friction remains. Volatility and regulatory uncertainty are still the biggest concerns for advisors, and home-office restrictions continue to limit adoption. Even so, the trend is clear: crypto is steadily moving from the edges of client conversations toward the core of portfolio construction.
