Crypto Ownership Surges in Canada as More Advisers Recommend Digital Assets: OSC

Crypto assets are gaining a stronger foothold in Canada’s mainstream investment market, with ownership rising sharply and financial advisers playing a growing role in investors’ decisions, according to the latest survey from the Ontario Securities Commission (OSC).

The OSC’s third Crypto Asset Survey, conducted with Ipsos among 2,360 Canadians, found that 25% currently own crypto assets, up from 10% in 2023. Overall awareness reached 59%, highlighting the expanding reach of digital assets among Canadian investors.

The shift is also visible in the relationship between crypto investors and financial advisers. Some 22% of crypto owners sought advice from a financial adviser before purchasing, compared with 13% in 2023. Among investors who work with advisers, 39% said their adviser had recommended allocating at least part of their portfolio to crypto, nearly double the 19% recorded in 2023.

The recommendations generally remained conservative, with allocations typically limited to 10% or less of a portfolio. Nevertheless, the change suggests crypto is increasingly being considered within traditional investment strategies rather than solely as a speculative product.

Investor sentiment has strengthened alongside adoption. The OSC found that 43% of Canadians believe crypto assets currently play a key role in the financial system, up from 26% in 2023. Meanwhile, 52% expect crypto to play an important role in the future.

Diversification, confidence in blockchain technology and speculation were among the leading motivations for buying crypto.

The findings also point to emerging opportunities beyond conventional cryptocurrencies. Awareness of stablecoins and tokenized real-world assets remains relatively limited, but interest could increase as traditional financial institutions begin offering such products.

For Canadian regulators, the rapid expansion of retail participation raises the importance of investor education, suitability and effective oversight as crypto becomes increasingly integrated into the mainstream financial system.