Bitcoin's journey from obscure technology project to mainstream investment consideration has been marked by extraordinary volatility, spectacular fraud and genuine innovation.
Institutional Adoption
The approval of spot Bitcoin ETFs in the United States has brought institutional capital into the market at scale. BlackRock, Fidelity and other major asset managers now offer Bitcoin exposure.
The Regulatory Landscape
The UK's Financial Conduct Authority has established a registration regime for crypto businesses. Full regulation of the sector is expected to be in place by 2026.
Our Assessment
Cryptocurrency deserves a place in a diversified portfolio — but position sizes should reflect the remaining uncertainties. A 1-5% allocation is appropriate for most risk-tolerant investors.
