The latest survey by the Ontario Securities Commission shows that cryptocurrency adoption in Canada continues to rise. Currently, about one-quarter of Canadians hold cryptocurrency assets or crypto investment funds, a significant increase over the past two years, reflecting a shift from early adoption to broader market participation.
The holding rate has significantly increased over the past two years.
Survey results show that 25% of Canadians currently hold cryptocurrency assets or related funds, up from 10% in 2023 and 13% in 2022. Among investors specifically, approximately 39% of Canadian investors already hold some form of cryptocurrency product.
Meanwhile, public awareness is also increasing. Approximately 59% of Canadians can correctly identify what cryptocurrency assets are, up from 54% in 2023 and 51% in 2022.
The usage of stablecoins is expanding.
The survey also showed that the use of crypto assets is no longer limited to price speculation. Among existing crypto asset holders, 74% reported having actually used their digital assets.
Stablecoins are used more frequently. The survey found that 89% of stablecoin holders have used the asset, with 20% reporting they have used stablecoins for international money transfers.
From the perspective of purchase motivations, Canadian respondents most frequently cited factors such as portfolio diversification, long-term optimism toward crypto assets and blockchain technology, and speculative investment. Some respondents also mentioned the need for digital transfers.
Investors are becoming more vigilant in their reviews.
The survey also found that investors are becoming more vigilant when selecting trading platforms. Fifty percent of cryptocurrency asset holders said they verify whether a platform is registered before investing, up from 38% in the previous survey.
However, the survey also noted that many Canadians still hold misconceptions about how crypto assets work, particularly regarding regulation, investor protection, and insurance coverage. This means that while market adoption is rising, investor education remains a key priority for the industry’s future development.