Underpriced geopolitical and cyber risks put Gold and Crypto in focus

European professional investors see geopolitical conflict escalation and cybersecurity attacks as the most underpriced risks in markets. 92% expect further shocks in the next 12 months, and more than half (54%) believe markets have not fully reflected them in asset prices. In response, investors are leaning on gold’s role as a historic safe haven and increasingly turning to bitcoin as an emerging alternative, according to new research^[1]  commissioned by WisdomTree.

The risks investors believe are most overlooked by markets include cybersecurity and digital infrastructure attacks (25%) and the escalation of geopolitical conflicts (23%).

The survey, conducted by Censuswide, a market research consultancy, polled 802 professional investors across Europe, ranging from wholesale financial advisory firms and institutional investors to wealth managers and family offices. The investors surveyed are responsible for approximately €4.3 trillion in AuM.

From renewed conflict in the Middle East, to rising tensions over Taiwan, geopolitical uncertainty continues to influence global markets. At the same time, investors are treating large-scale cyberattacks on critical infrastructure and financial systems as systemic risks in their own right.

• Beginners Guide to Commodities
• Armchair Academy: Introduction to Precious Metals
• WisdomTree cleared for retail Crypto ETPs by FCA
• Société Générale analysts forecast $5000 gold price
• Podcast: FCA gives green light to Bitcoin ETPs for UK investors

These pressures are driving professional investors to increase allocations to safe-haven assets, with gold and bitcoin playing an increasingly important role. In the next 12 months, 43% plan to increase allocations to bitcoin^[2], while 39% plan to increase gold holdings.

Gold and bitcoin: record highs and long-term forecasts

Both assets reached record highs in 2025, reinforcing their importance in portfolios. Gold’s rally was supported by persistent central bank demand, while bitcoin’s resilience reflected structural inflows from both retail and institutional investors. Looking further ahead, WisdomTree’s base case forecasts suggest bitcoin could rise to $275,000 by 2030, while gold could breach $5,000 per ounce as early as next year and remain above that level over the medium-term. These projections highlight the growing role of both assets as potential safe havens, with investors increasingly treating them as complementary anchors in portfolio construction.

Nitesh Shah, Head of Commodities and Macroeconomic Research, Europe, WisdomTree, said: “Gold has long been considered the anchor safe haven, with its enduring role in portfolios reaffirmed by its performance in 2025. Its consistently low correlation to equities and credit markets has made it a stabiliser during times of systemic stress. Bitcoin, while still emerging as a potential safe haven asset, has shown resilience, and its limited supply means it is increasingly being treated as a complementary hedge alongside gold. This combination helps explain why professional investors plan to raise allocations to both assets in the year ahead.”

Allocations on the rise

Many European professional investors have already acted^[3], with 28% having bought gold, 24% having bought defence or cybersecurity stocks, and 21% allocated to bitcoin^[4] or other cryptocurrencies to hedge against the potential for geopolitical and cybersecurity shocks. This places gold and crypto at the top of the safe-haven hierarchy. According to the survey, cryptocurrencies (29%) and gold (26%) are the two most likely assets to be accessed by professional investors via the ETF/ETP wrapper.

Professional investors are more likely to access gold and crypto via physically backed ETPs because, unlike equities or bonds, direct ownership is complex, and ETPs offer a secure, low cost, transparent, and easily integrated way to hold them in portfolios.

With over 20 years of experience in physically backed ETPs, WisdomTree has observed how professional investors use these exposures to build resilience in portfolios. That perspective underpins how professional investors are now combining gold and bitcoin in their multi-asset portfolios.

Pierre Debru, Head of Research, Europe, WisdomTree, said:
“Professional investors are now treating gold and bitcoin as complementary assets, no longer niche diversifiers but increasingly central to portfolio construction. Their contrasting characteristics – gold as a proven stabiliser and bitcoin as a non-sovereign alternative with fixed supply — mean that together they can add resilience without diluting long-term return objectives.”

Related ETFs

Would you like your funds listed here? Contact us

[1] Source: Censuswide, WisdomTree Pan-Europe Professional Investor Survey Research, Survey of 802 professional investors across Europe, conducted between June and July 2025
[2] Bitcoin or other digital assets
[3] Those who expect a major geopolitical shock to impact markets in the next 12 months
[4] Bitcoin or other digital assets