UK crypto ownership has experienced a notable decline in 2025, according to a recent YouGov poll conducted for the Financial Conduct Authority (FCA). The survey reveals that only 8% of UK adults now hold cryptocurrencies, a significant drop from the 12% reported in 2024. This decrease suggests a cooling of interest in the digital asset class after two years of steady growth.
While crypto ownership has decreased, awareness of cryptocurrencies remains widespread in the UK. The FCA reports that 91% of adults surveyed are familiar with crypto assets, a figure that has remained consistent over the past few years. This indicates that the decline in ownership is not due to a lack of awareness but rather a shift in investment behavior.
The YouGov poll also sheds light on the changing composition of crypto portfolios in the UK. The data indicates a move away from smaller holdings and towards larger, more substantial investments. The proportion of crypto holders with investments between £1,001 and £5,000 has increased by four percentage points to 21%, while those with holdings valued between £5,001 and £10,000 rose by three points to 11%. Conversely, the share of investors with crypto valued at £100 or less has fallen from 32% to 27%. This trend suggests that the UK crypto market is consolidating around more committed investors who are holding larger positions. Rising prices for major cryptocurrencies may have pushed some casual or lower-value investors out of the market.
Centralized exchanges continue to be the preferred platforms for buying and selling cryptocurrencies in the UK. The survey found that 73% of respondents typically use platforms such as Coinbase, Binance, or Kraken, an increase from 69% the previous year. Ease of use, platform reputation, and safety are cited as the most important factors when choosing a platform.
The FCA's findings also reveal a split in risk appetite among crypto users. Approximately 63% of crypto users indicated a willingness to take higher risks in pursuit of higher returns.
The FCA is preparing to implement a comprehensive regulatory regime for digital assets. These plans would subject crypto firms to rules covering market abuse, lending practices, custody, and exchange standards, aligning the oversight of the sector more closely with traditional financial services. While the FCA acknowledges that regulation cannot eliminate the inherent risks of investing in volatile digital assets, the aim is to ensure that investors are well-informed about these risks. The proposals follow government legislation aimed at bringing crypto assets under the FCA's purview, with the goal of establishing a full UK regulatory regime by 2027.
