Digital assets in investment funds: The quiet but steady rise of crypto-permissive mandates

Open-ended funds are increasingly adopting crypto-permissive mandates, reflecting a meaningful shift in institutional portfolio construction. Digital assets have evolved from a niche allocation into a distinct asset class that many asset managers now consider alongside traditional asset classes.

The shift towards crypto-permissive mandates

Both open-ended and closed-ended funds are expanding their use of digital assets. Institutional managers of open-ended funds have traditionally been cautious adopters of emerging asset classes. In recent years, however, there has been a clear increase in mandates that permit exposure to digital assets.

According to the data in the Maples Group’s Q1 2026 Open-Ended Funds Report, approximately 19% of open-ended funds launched in Q1 2026 expressly permit investment in digital or crypto assets. Crypto and digital asset strategies also featured prominently among specialist and niche strategies, collectively representing approximately 12% of all open-ended fund launches in the first quarter.

As confidence in the supporting infrastructure, including custody solutions, trading platforms and risk management frameworks, has grown, digital assets have evolved from opportunistic allocations to a strategic consideration within broader portfolios.