The number of licensed crypto asset service providers in Estonia fell to 32 at the end of the first quarter of 2026, nine fewer than a year earlier, according to the Bank of Estonia.

Client assets held by the service providers fell by 42% over the year, affected by companies ceasing operations, falling crypto asset prices and asset sales. Client assets made up 87% of the providers’ balance sheets, with private individuals owning 92% of those assets.

Estonian clients accounted for only 2% of total client assets held by the providers, underlining the largely international nature of the sector.