A report published by professional services network Grant Thornton found that family offices are turning to cryptocurrencies and blockchain to increase investments in these sectors. More than half of the family offices consulted have already invested in digital assets, with 38% allocating less than 1% of their portfolio to these technologies.
Grant Thornton report shows family office interest in cryptocurrencies and blockchain.
Family offices may consider investing more funds into cryptocurrency and blockchain initiatives. A recent report by Grant Thornton, a professional services network that operates in over 147 markets and employs over 68,000 people, found that family offices are becoming more comfortable with cryptocurrency and blockchain. 35% of these offices wish to increase their exposure to blockchain investments, and 27% expect to increase their investments in cryptocurrencies.
Nonetheless, these two investment tools are not new to these types of institutions. This is because more than half of the offices we consulted have already invested part of their funds in cryptocurrency. For reference, 38% of companies allocate less than 1% of their portfolio to these investments.
Mian Wong, advisory director at Grant Thornton Hong Kong, said that despite all the uncertainty surrounding cryptocurrency regulation, digital assets will remain essential as alternative investments. She urged the government to establish guarantees to ensure order in the virtual asset market. Grant Thornton Hong Kong has attracted over 30 family offices to Hong Kong and has received inquiries from offices across China, Southeast Asia, Europe and the Middle East.
A Goldman Sachs survey last June found that family offices are turning to cryptocurrencies due to “high inflation, a prolonged period of low interest rates, and other macroeconomic developments following unprecedented global monetary and fiscal stimulus.” Despite this, only 15% of the 150 family offices surveyed by Goldman invested in cryptocurrency and blockchain products.
What do you think about Grant Thornton’s report on the growing interest of family offices in blockchain and cryptocurrency investments? Let us know in the comments section below.
Source: Bitcoin.com