The banking giant Goldman Sachs determined in a recent study that 32% of family offices across the globe have exposure to digital assets, NFTs, or DeFi, while 26% have explicitly invested in cryptocurrencies.
The results from the 2021 research showed that only 16% of the wealth management firms were HODLers.
Goldman Sachs contacted 166 family offices in the Americas, Europe, the Middle East and Africa (EMEA), and Asia-Pacific (APAC) to determine how their investment strategy has altered in the past few years.
The study from 2021 estimated that 16% of the respondents have invested in digital currencies, while the current figures have risen to 26%. Nonetheless, interest in the sector has dropped significantly:
“Within the digital-asset ecosystem, family offices have become more decisive about cryptocurrencies: the proportion that is invested has risen from 16% in 2021 to 26%. However, the proportion that is not invested and not interested in the future has risen from 39% to 62%, and those that are potentially interested in the future has fallen from 45% to 12%.”
Goldman Sachs further revealed that 32% of the participants currently have some exposure to digital assets (including cryptocurrencies, stablecoins, non-fungible tokens (NFTs), decentralized finance (DeFi), and blockchain-related funds).
The primary motivation for those who have entered the ecosystem is the belief in the power of blockchain technology (19%). 9% have joined the industry to diversify their portfolios, whereas 8% view digital currencies as a store of value. In addition, 8% have purchased bitcoin or altcoins, hoping to profit in the future or simply speculating.
Reasons for Investing, Source: Goldman Sachs
Most HODLers (30%) are from the APAC region. In addition, 27% of the family offices without crypto exposure from that area remain interested in the future.
The EMEA is on the opposite corner, with only 15% cryptocurrency investors and 79% who say they are not intrigued to join the pack.
Another recent study conducted by KPMG China and Aspen Digital concluded that nearly 60% of family offices and high-net-worth individuals (HNWIs) from Hong Kong and Singapore have invested some of their wealth in digital assets.
“For HNWIs and family offices, there is a real possibility of a big upside, so they may think, why not stick 2 or 3 percent of my portfolio in that and see what happens,” Paul McSheaffrey – Senior Banking Partner at KPMG China – explained.
The research revealed that the two largest cryptocurrencies by market capitalization – bitcoin (BTC) and ether (ETH) – are the most popular digital assets in both regions.
The post 26% of Family Offices Invest in Crypto: Goldman Sachs Survey appeared first on CryptoPotato.
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