A report from Grant Thornton, a professional services network, shows that family offices are eyeing crypto and blockchain to increase their investments in these areas. More than half of family offices surveyed have already invested in digital assets, with 38% dedicating less than 1% of their portfolio to these technologies.
Grant Thornton Report Reveals Family Offices’ Interest in Crypto and Blockchain
Family offices may consider investing more money in crypto and blockchain initiatives. A recent report by Grant Thornton, a professional services network that operates in more than 147 markets and employs more than 68,000 employees, found that family offices are warming up to crypto and blockchain. 35% of these offices hope to increase their exposure to blockchain investments, while 27% expect to increase their cryptocurrency investments.
Nevertheless, these two investment instruments are not new for this type of institutions, as more than half of the offices consulted had already invested part of their money in crypto. For reference, 38% of companies had allocated less than 1% of their portfolio to these investments.
Mian Wong, consulting director of Grant Thornton Hong Kong, stated that even with all the uncertainty surrounding cryptocurrency regulation, digital assets will be critical as alternative investments. She urged the national government to provide guarantees to ensure an orderly market for virtual assets. Grant Thornton Hong Kong has attracted more than 30 family offices in Hong Kong and has received inquiries from offices across China, Southeast Asia, Europe and the Middle East.
In June, a Goldman Sachs survey found that family offices were turning to crypto due to “higher inflation, prolonged low interest rates and other macroeconomic developments following a year of unprecedented global monetary and fiscal stimulus.” Nevertheless, only 15% of the 150 family offices surveyed by Goldman had invested in crypto and blockchain products.