Family offices remain cautious about both crypto and gold despite ongoing geopolitical uncertainty, according to a new survey from JP Morgan Private Bank.
The report claims that portfolios are still heavily concentrated in traditional assets, leaving crypto exposure extremely limited.
“On average, about 75% of assets are allocated to a combination of public equities and alternative investments, with US large-cap equities dominating public holdings and withdrawal funds the leading private funds. Also revealing are the areas where many offices are not investing (Exhibit 4). Despite the headlines and hype surrounding crypto and other digital assets, the vast majority of family offices (89%) remain on the sidelines.”
The bank added that this hesitation reflects an unresolved debate within the industry itself.
“This could reflect a debate we’re also having within JP Morgan: what role should cryptocurrency and other digital assets play in a portfolio, and, perhaps more importantly, how much should a portfolio own given their high volatility and inconsistent correlation with other assets?”
The findings are based on an online survey of 333 individual family offices in 30 countries, including 197 participants in the United States and 136 internationally. The answers have been anonymized and analyzed by an independent research agency.
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