According to a recent report by Bloomberg, which relies on new data from the Financial Conduct Authority (FCA), the number of British adults owning cryptocurrency has dropped for the first time in years.
Despite a generally bullish year for price action, fewer people are actually participating in the market.
Crypto ownership has fallen to approximately 8% of the UK adult population.
Crypto ownership reached a peak of 12% (around 7 million adults) last year.
This is the first year-on-year decline since 2021 (when ownership was only 4.4%).
High prices, low enthusiasm
The decline in users is counterintuitive because prices were high during the survey period.
Bitcoin Record: Bitcoin hit an all-time high of $126,251 in early October 2025.
The FCA research finished in September, just before this peak.
Following that October peak, the market suffered a "months-long rout" driven by forced liquidations and a collapse in retail momentum.
The price surge was likely driven by institutional money or existing "whales," rather than new retail users entering the market.
"Quality" over quantity
Even though the number of investors dropped, the commitment of the remaining investors has actually increased.
21% of users now hold between £1,001 and £5,000. At the same time, the number of people holding small amounts (under £100) has dropped significantly.
New regulatory developments
The UK government has formally announced that cryptocurrency assets and service providers will be regulated under existing financial services law starting in October 2027. This aims to give the industry greater legal certainty and protect investors.
The regulation will bring exchanges, custodians, stablecoins, and other crypto firms under the Financial Conduct Authority (FCA) supervision.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team