Crypto ownership rises in the Netherlands as AFM warns risks remain

The Dutch Authority for the Financial Markets (AFM) says crypto ownership is growing despite a sharp market downturn since October 2025, while warning that digital assets remain risky and calling for clearer consumer protections and stronger supervision.

One in eight people in the Netherlands owns crypto, according to figures cited by the regulator. Most have relatively small holdings: more than half of crypto owners have less than €1,500 in total. Bitcoin is the most popular asset, held by more than half of Dutch crypto investors.

The AFM says crypto prices can be highly volatile and many consumers struggle to understand complex products and services. It also warns that new offerings emerge quickly, putting pressure on regulators to keep pace.

Some crypto providers offer services that fall outside the scope of the EU’s Markets in Crypto-Assets Regulation, known as MiCAR. Since July, providers operating within the EU have been required to hold a MiCAR licence, but the AFM says customers should be told clearly when a service is not covered by European oversight. Even a licence does not remove the risks of investing in crypto, the regulator adds.

The figures concern crypto held through Dutch providers and do not capture every form of ownership. Separate figures from the Dutch central bank put household crypto holdings with domestic providers at €3.2bn at the end of June 2026; they exclude assets held with foreign providers or in personal wallets. A previous report on the DNB figures explains that limitation.

In a separate publication on Tuesday, the AFM also warned that the transfer of wealth through inheritances and gifts could leave consumers vulnerable to fraud and unsuitable or complex financial products. The regulator said the growing transfer of wealth could also widen inequality in access to housing, for example when inheritances are used to buy homes.