Asian Private Wealth Bullish on Crypto: New Report
According to a new survey by private wealth platform Aspen Digital, 76% of Asian private wealth is currently investing in digital assets. This number is up from 58% in 2022 per the KPMG report at the time.
According to a new survey by private wealth platform Aspen Digital, 76% of Asian private wealth is currently investing in digital assets. This number is up from 58% in 2022 per the KPMG report at the time.
The research found that the reason for the growing interest is the potential rise of digital assets. It was conducted among nearly 100 family offices (FO), high-net-worth individuals (HNWIs), and asset managers across Asian countries like Hong Kong, Singapore, Japan, and more.
Private wealth is bullish about the 4th quarter of 2024 with 31% of survey participants predicting the Bitcoin price to hit at least $100,000 by the end of 2024.
Aspen Digital mentions investors are mainly considering Bitcoin and Ethereum, and are more focused on sectors like DeFi, DePin, and AI.
The CEO of Aspen Digital, Elliot Andrews said the conversation for the private wealth segment changed from whether the asset class is investable to what part it should make in their portfolios.
He added that crypto ETFs (Exchange Traded Funds) are the fastest growing of all time. Despite a small proportion of institutional investors adopting ETFs, the products brought legitimacy to crypto as an asset class.
Meanwhile, the fragmented landscape is the key pain point for investors. 80% responded they are interested in wealth management providers to manage their portfolios.
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