A little crypto left wealthy portfolios last year, but the move looks more like a pause than a retreat.
HSBC surveyed 9,993 investors across 10 countries who have at least $100,000 in assets. The average chunk of their money sitting in cryptocurrencies dropped from 7% in the previous year to 6% in 2026. That is not a huge shift, but it is a clear one.
45% of respondents reported that they plan to raise their cryptocurrency exposure in the coming year, while another 40% intend to keep their allocation where it is. Only 16% plan to cut back or are unsure.
That one percentage point that left crypto did not just disappear. It mostly moved into stocks, which climbed two percentage points to 16% of the average portfolio. Alternative asset classes such as private investments and hedge funds also saw a two‑point increase, reaching 8%.
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Cash remains the single biggest category at 19%, though it slipped a bit. Bonds stayed flat at 14%, real estate was unchanged at 12%, and gold dropped one percentage point to 10%.
Age turned out to be the biggest factor in how people handled crypto. Gen Z investors (ages 21-29) have cryptocurrency allocations three times larger than Baby Boomers (ages 62-69). And they are the ones most likely to keep piling in.
The regional picture varied too. Hong Kong saw the biggest drop, down two percentage points. Crypto allocations dipped one point in the UK and the U.S., while Singapore, Malaysia, and Taiwan saw no change. Mainland China actually nudged up one point.
These generational and regional trends highlight that crypto adoption is far from uniform, with younger investors and certain markets driving continued interest.
The survey runs from Jan. 6 to Feb. 6, 2026, so it captures the mood at the start of this year. That mood seems to be: crypto is still a bet worth making, just maybe not as big a bet as last year.
For investors watching this space, the big story is the generational gap. Young investors are loading up on crypto while older ones are trimming. That does not guarantee anything, but it does tell you where the conviction sits.
It also tells you that volatility is not scaring off the people who grew up with digital assets. Crypto went from 7% to 6% in portfolios, and nearly half of wealthy investors immediately said they want to buy more. That is not a group running for the exits.
The practical takeaway? If you are watching your own portfolio, the mix matters more than the headline. Stocks and private investments are getting more attention, cash is still king, and crypto is holding its place as a smaller but persistent slice.
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