Is Canada the Next Big Crypto Market? Ownership Doubles to 25%: OSC

Canada’s crypto market is showing signs of becoming one of the most mature digital asset ecosystems globally. A new survey by the Ontario Securities Commission (OSC) found that 25% of Canadians now own cryptocurrency or crypto-related investment products, more than doubling from 10% in 2023.

The jump comes as the country combines early regulatory clarity, growing institutional participation, and rising interest in stablecoins and tokenized assets.

How the Crypto Market in Canada Looks

OSC’s survey of 2,360 Canadian adults found that 38% are likely to purchase crypto within the next 12 months. Meanwhile, 22% of Canadians consult a financial advisor before investing, up from 13% in 2023.

Nearly  39% of advised investors said their financial advisor recommended digital assets, reflecting increasing confidence among traditional wealth managers. At the same time, 50% of respondents said they verified whether a crypto platform was registered before investing, highlighting the growing importance of regulated market infrastructure.

Canada’s digital asset ecosystem has also become more diverse. The OSC found that 34% of Canadians are familiar with stablecoins, while 11% reported holding or using one during the past year.

Among stablecoin users, 38% used them to trade other cryptocurrencies, 36% converted them into cash, 30% earned yield, and 24% used them for payments. Interest in tokenized assets is also beginning to emerge, with 74% of respondents familiar with tokenization saying they would consider investing in tokenized government bonds or money market funds if offered by their bank or investment firm.

Trading activity remains robust too. Canada accounted for an estimated $340 billion in on-chain cryptocurrency value received between July 2024 and June 2025, according to Chainalysis’ latest Geography of Cryptocurrency report. While significantly smaller than the U.S., the market continues to rank among the world’s leading jurisdictions for regulated crypto activity and institutional adoption.

What is the State of Crypto Regulations in Canada

The surge in adoption comes as Canada continues refining its regulatory framework for digital assets. Earlier this year, the federal government unveiled its proposed stablecoin framework. It outlined rules on reserve backing, redemption rights, governance and oversight for payment stablecoins.

Beyond regulation, Canada remains one of the few jurisdictions with a well-established institutional crypto market. It was the first country to approve spot Bitcoin ETFs and now hosts multiple regulated Bitcoin and Ethereum investment products. It is also home to several publicly listed firms such as WonderFi, Coinsquare, coinbase and Hut 8 which continue expanding the country’s digital asset ecosystem.

It also comes as Canada’s neighbour United States continue to progress in crypto regulations. Just today only, Senator Lummis confirms CLARITY Act Senate Floor Vote Next Week ahead of August recess.

Thus, the latest OSC findings suggest Canada’s digital asset industry is entering a more mature phase. Rising ownership, greater participation from financial advisors, increasing stablecoin adoption and a steadily evolving regulatory framework indicate that Canada is no longer simply an early adopter—it is emerging as one of the world’s most established and institution-friendly crypto markets.