Asian Private Wealth Increasingly Invests In Digital Assets

According to Cointelegraph, a new report from Aspen Digital reveals that 76% of private wealth in Asia has already invested in digital assets, with an additional 18% planning future investments. Interest in digital assets within Asia’s private wealth sector has grown since the Hong Kong-based wealth management platform conducted its survey in 2022, when only 58% of respondents had ventured into the digital asset space. The report surveyed 80 family offices and high-net-worth individuals across Asia, most of whom manage assets between $10 million and $500 million. Among respondents already invested in crypto, 70% have allocated less than 5% of their portfolios to digital assets, though some have increased their allocations to over 10% in 2024. Asian private wealth appears increasingly drawn to the profit opportunities presented by blockchain’s technological applications. Two-thirds of respondents expressed interest in decentralized finance (DeFi), while 61% showed interest in artificial intelligence and decentralized physical infrastructure networks (DePIN). Aspen Digital also noted that respondents are generally optimistic about Bitcoin’s (BTC) outlook for the remainder of 2024, with 31% predicting a price of $100,000 by year-end. The approval of spot Bitcoin exchange-traded funds (ETFs) has boosted digital asset appetite among Asian investors, with 53% of respondents gaining exposure through funds or ETFs. This trend aligns with global developments, as highlighted in the recent Global Crypto Hedge Fund Report by AIMA and PwC. Their survey of nearly 100 hedge funds across six regions, managing a combined $124.5 billion, reported a rise in crypto exposure from 29% in 2023 to 47% in 2024, driven by regulatory clarity and the launch of crypto ETFs in the United States and Asia. Spot Bitcoin ETFs began trading in the US in January 2024, while spot Bitcoin and Ether ETFs launched in Hong Kong in April.