A new survey by the Ontario Securities Commission (OSC) reveals that one in four Canadians now owns digital assets or crypto investment funds, marking a dramatic leap in adoption. Ownership has more than doubled from just 10% in 2023 and 13% in 2022. Nearly 39% of Canadian investors now hold some form of crypto product, underscoring the asset class's integration into mainstream finance.
Coinbase Canada Country Director Eric Richmond celebrated the milestone on social media platform X, stating, "1 in 4 Canadians now own crypto, and trade more with Coinbase than any other platform in the country. Digital assets are now mainstream in Canada, and they look for platforms they can rely on to do just that."
The survey highlights shifting usage patterns beyond speculation. Among current crypto owners, 74% have actually used their digital assets, and 89% of stablecoin holders reported active usage. Notably, 20% of stablecoin owners said they had used them for international money transfers. When asked about their motivations, Canadians cited portfolio diversification (28%), long-term belief in crypto and blockchain technology (27%), and speculative investing (26%).
Awareness is also climbing: nearly 59% of Canadians can correctly identify a crypto asset, up from 54% in 2023. However, the survey noted gaps in understanding around regulation and investor protection. Encouragingly, 50% of crypto owners now check whether a trading platform is registered before investing, up from 38% in the previous survey, signaling improved investor diligence.
