FCA finds crypto ownership fell to 8% in the UK, despite high public awareness

The proportion of UK adults holding crypto assets fell to 8% in 2025, down from 12% in 2024, according to new YouGov consumer research conducted on behalf of the Financial Conduct Authority.

While ownership declined year-over-year, it remains roughly double the level reported in 2021, underscoring that participation has pulled back from last year’s peak rather than collapsing outright. Public awareness of crypto remained high at 91%, broadly unchanged from recent years.

UK crypto ownership. Image: FCA.

This year’s findings show that while the proportion of UK adults holding crypto assets has declined compared to 2024, the typical value held by investors has increased. The share of users with very small holdings of £100 ($134) or less continued to fall, while ownership of higher-value portfolios rose. Holdings worth between £1,001 ($1,314) and £5,000 ($6,714) increased four percentage points to 21% of crypto asset users, while those holding £5,001 ($6,715) to £10,000 ($14,430) climbed three percentage points to 11%.

Centralized exchanges remain an increasingly dominant entry point for crypto ownership, according to the research. Around 73% of respondents said they typically acquire their assets through platforms such as Coinbase, Binance, or Kraken, up four percentage points from 2024. Payment firms offering crypto services followed at 15%. Users cited ease of use, reputation, and safety and security as the most important factors when choosing an exchange.

Risk appetite, behaviour and regulation

The research also highlighted a clear gap in risk tolerance between crypto users and the wider public. Around 63% of users said they are willing to take higher risks for higher returns, compared with 24% among those who are aware of crypto but do not hold it. Despite this higher risk appetite, engagement in activities such as crypto lending and borrowing remained limited and broadly unchanged from 2024.

Participation in staking declined in 2025, with 22% of users saying they had taken part, down five percentage points from the prior year. Use of credit to purchase crypto also fell, with around 9% of users saying they relied on a credit card or existing credit facility, compared to 14% in 2024. Most of those who used credit said they would have purchased a similar amount using other payment methods if credit cards were unavailable.

Views on regulation were mixed. One quarter of responding crypto users said they would be more likely to invest if cryptocurrencies were more regulated in the UK, while a further 26% said regulation would only encourage investment if it included financial protection in the event of a platform failure. In contrast, 11% said more regulation would make them less likely to invest, and 25% said it would have no impact either way.

UK crypto roadmap

The findings come as the UK government and regulators advance a phased approach to crypto regulation, intended to support innovation while strengthening consumer protection and market integrity.

Earlier this week, the UK introduced framework crypto legislation to bring crypto into the existing financial regulatory perimeter and give HM Treasury powers to set the overall regime, with oversight by the FCA and the Bank of England.

Meanwhile, the FCA is continuing to consult on detailed rules covering areas such as admissions and disclosures, trading platforms, intermediaries, custody, staking, lending and borrowing, and decentralized finance as part of its crypto roadmap, with final rules expected in 2026.

HM Treasury is expected to use secondary legislation to define the scope, timing, and transition arrangements, with enforcement planned to begin from 2027.