This research note offers valuable insights into shifting behaviours and attitudes, helping us shape a regulatory environment that is both robust and responsive.
Read the research note (PDF)[2]
This research was conducted on behalf of the FCA using a self-complete online methodology with the sample coming from the YouGov online research panel between 5 August-2 September 2025.
Fieldwork was conducted in two phases:
- The first phase of fieldwork collected a total of 2,353 interviews. The composition of this sample was controlled by quotas using targets reflective of the UK’s adult population based on the key demographics of age, gender, education level, region, and social grade. Respondents who said they had never heard of cryptoassets were subsequently removed from the survey after only answering two questions which asked about their general awareness of cryptoassets and cryptoasset ownership status.
- The second phase of fieldwork was a boost of n=1,053 interviews among people who own or have previously owned cryptoassets. No quotas were utilised in the collection of this group.
As of September 2025, the research suggests:
- Overall awareness of cryptoassets among the general public remains very high at 91%, which is in line with 2024.
- Awareness of stablecoins among cryptoasset users continues to climb, rising to 58% in 2025 from 53% in 2024.
- When looking at the value of cryptoasset holdings, there is a continuing trend in the reduction of small value holdings, mainly of £100 or below, and an increase in those with larger value cryptoasset holdings.
- The use of a centralised exchange e.g. Coinbase, Binance, Kraken etc. is by far the most common way cryptoasset users purchase/obtain their cryptoassets. Use of a centralised exchange has also increased compared to 2024 (+4% to 73%).
- Rates of cryptoasset lending and borrowing remain in line with 2024 levels.
- Cryptoasset users are more tolerant of risk when investing in cryptoassets compared to the
- wider cryptoasset aware group.
- The proportion of cryptoasset users who said they have participated in cryptoasset staking has fallen by 5% to 22%.
- Overall, just under 1 in 10 (9%) of cryptoasset users say they paid for their cryptoassets using a credit card or existing credit facility, a figure which has fallen by 5% compared to 2024.
- Among cryptoasset users, 25% say they would be more likely to invest if cryptocurrencies were more regulated in the UK.
Authors
YouGov, on behalf of the FCA.
Disclaimer
Research notes contribute to the work of the FCA by providing rigorous research results and stimulating debate. While they may not necessarily represent the position of the FCA, they are one source of evidence that the FCA may use while discharging its functions and to inform its views. The FCA endeavours to ensure that research outputs are correct, through checks including independent referee reports, but the nature of such research and choice of research methods is a matter for the authors using their expert judgement. To the extent that research notes contain any errors or omissions, they should be attributed to the individual authors, rather than to the FCA.