New research concludes that the wild volatility of cryptocurrencies has done little harm to the average consumer, while wealth managers report client interest in the sector has died out.

Three percent of the 2132 consumers who took part in the FCA study had purchased cryptocurrencies, with the “vast majority” using disposable income to do so. The study did not cover participant’s wealth levels.

More than 70 percent had either never heard of cryptocurrencies, or could not define what they were.

Those who did invest came across somewhat reckless: 16 percent had done no research prior to purchase, and only ...