The post Asia’s family offices increase focus on digital assets amid growing market interest appeared on BitcoinEthereumNews.com.

Family offices in Asia are increasingly focusing on digital assets, with many planning to increase their investments in this sector. According to a Feb. 19 article from Nikkei Asia, Zann Kwan, the managing partner and chief investment officer at Revo Digital Family Office, has highlighted a growing trend among family offices in crypto. The changing strategy aims to diversify portfolios and potentially improve returns, covering both direct and indirect investments in cryptocurrencies, crypto funds, structured products, and direct private equity investments. The article added that despite digital assets constituting less than 0.5% of the total assets under management in Asia-Pacific family offices, there is a noticeable trend. It cited another report by Campden Wealth and Raffles Family Office, which revealed a growing interest in cryptocurrencies. About 9% of family offices without current crypto investments are planning to venture into this asset class. The interest towards digital assets has been reinforced by significant price increases in cryptocurrencies such as bitcoin and ether in 2023. During that time, bitcoin’s value has surged over 160%, reaching a market cap of over $1 trillion for the first time since December 2021. Additionally, the approval of the first U.S.-listed spot bitcoin exchange-traded funds (ETFs) in January was a major milestone, expanding investment avenues for both institutional and retail investors. Furthermore, Hong Kong has been proactive in regulating digital assets, readying itself for applications for virtual asset (VA) spot ETFs, potentially making it the first Asian market to introduce such products. Despite these positive developments, macroeconomic challenges and geopolitical tensions have led to a cautious investment stance among Asian family offices. The report also cited Brian Chan from Venture Smart Financial Holdings (VSFG), who reported an interest in liquid investments, particularly crypto hedge funds, as family offices seek flexibility in the current economic climate. This comes…

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Filed under: News - @ February 19, 2024 5:10 pm