Only 11 per cent of financial advice practices include crypto products on their approved products lists (APLs), according to CoreData.

Research by the organisation found 11 per cent do include them, 74 per cent do not include them on their APL or advise on them, and 6 per cent may do so in special instances.

However, it also found 38 per cent of investors say they hold crypto, which presents a dilemma where advisers cannot help them with their exposure.

The volume holding the assets was beyond the expectations of advisers who predicted less than 5 per cent of their client base would hold exposure.

“With crypto rarely included on APLs, most advisers face significant limitations when discussing it with clients. This leads to a situation where investors are unable to get advice on crypto assets, despite over a third now holding them,” CoreData said.