According to a new report by Aspen Digital, the majority of Asian private wealth is either already involved in cryptocurrencies or seriously considering it. As much as 94% of wealthy individuals and family offices have either invested in digital assets or plan to do so in the near future.
Increase in Investments in Digital Assets
The report states that 76% of Asian private wealth has already invested in digital assets, with another 18% considering making such investments soon. This interest has increased since 2022, when the same Hong Kong-based wealth management platform found that only 58% of respondents were involved in the crypto space.
Family Offices and High Net-Worth Individuals
The survey targeted 80 family offices and high net-worth individuals managing assets ranging from $10 million to $500 million. Results show that most of those already invested in cryptocurrencies allocate less than 5% of their portfolios to digital assets. However, some have increased their allocations to more than 10% in 2024.
Interest in Blockchain and Emerging Technologies
Asian private wealth is increasingly attracted to opportunities linked to blockchain-based technologies. Two-thirds of respondents expressed interest in decentralized finance (#DEFİ ), while 61% are interested in artificial intelligence and decentralized physical infrastructure networks (#DePIN ).
Optimistic Outlook for Bitcoin
The report also reveals that respondents generally have an optimistic view of Bitcoin’s future price development. As many as 31% believe that #bitcoin☀️ will reach the $100,000 mark by the end of 2024.
Increased Exposure Through ETFs
Interest in digital assets among Asian investors has been boosted by the approval of spot Bitcoin ETFs. A total of 53% of respondents gained exposure to cryptocurrencies through funds or ETFs. This trend mirrors global developments, as highlighted in the Global Crypto Hedge Fund Report by AIMA and PwC, which reported an increase in crypto exposure from 29% in 2023 to 47% in 2024.
Spot Bitcoin and Ether ETFs in the US and Hong Kong
Spot Bitcoin ETFs began trading in the US in January 2024, while Hong Kong launched spot Bitcoin and Ether ETFs in April of the same year. This move has further fueled Asian investors' interest in cryptocurrencies, thanks to greater regulatory clarity.
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