Romanians’ crypto holdings estimated at EUR 12 bln amid record participation rate

Speaking at the opening of the Romanian Fund Managers Summit, Avrămescu, as cited by Ziarul Financiar, stressed that Romania still lacked a designated national authority responsible for supervising crypto-assets, despite the scale of the market.

Based on Romania’s population of about 19 million, a 15% ownership rate would represent almost 2.9 million people, according to calculations by Ziarul Financiar.

The estimated number of crypto-asset holders exceeds the number of investors in several established domestic investment channels. Intermediaries reported about 325,000 stock market investors at the end of June, according to the Investor Compensation Fund.

Romanian open-ended investment funds had more than 1.4 million investors, according to the Association of Fund Administrators (AAF), while the third pillar of the pension system had 1.1 million participants. The mandatory second-pillar pension system had 8.54 million participants.

The value of crypto-assets held by Romanians is also comparable with the assets managed by the country’s investment funds. Avrămescu said assets held by all investment funds distributed in Romania reached RON 81 billion, almost 30% above the level recorded at the beginning of the year.

The figures presented at the summit point to substantial participation in crypto-assets alongside traditional investment products, while the question of national supervisory responsibility remains unresolved.