- 76% of Asia’s private wealth has invested in digital assets, with 18% planning future investments.
- 70% of investors allocate less than 5% of portfolios to crypto, with some increasing to 10% in 2024.
- Spot Bitcoin ETFs, launched in the US and Hong Kong, have spurred digital asset interest in 2024.
A new report from Aspen Digital has found that 76% of Asia’s private wealth sector has ventured into digital assets, with an additional 18% planning to invest soon. The survey, conducted across 80 family offices and high-net-worth individuals, showed that interest in cryptocurrencies has grown significantly since 2022. Back then, only 58% of respondents had explored digital investments.
Respondents, managing between $10 million and $500 million in assets, have diversified their portfolios to include digital assets, but most have limited their exposure. According to the report, 70% of those investing in cryptocurrencies have allocated less than 5% of their total portfolio to these assets. However, a few investors have increased their crypto holdings to over 10% by 2024.
Growing Interest in Blockchain and DeFi
The report also highlighted growing interest in blockchain’s technological applications among Asia’s wealthy. About two-thirds of respondents expressed interest in decentralized finance (DeFi), and 61% showed interest in areas such as artificial intelligence and decentralized physical infrastructure networks (DePIN).
Furthermore, optimism surrounding Bitcoin’s performance remains strong, with 31% of respondents predicting that the cryptocurrency could reach a price of $100,000 before the end of 2024.
ETF Impact on Crypto Investment
Aspen Digital’s findings align with broader trends reported in the Global Crypto Hedge Fund Report by AIMA and PwC. The report noted that Bitcoin exchange-traded funds (ETFs) launched in the US and Hong Kong have sparked greater interest in digital assets. More than half of the respondents gained exposure to cryptocurrencies through funds or ETFs.
This rise in crypto investment comes after the approval of spot Bitcoin ETFs, which began trading in the United States in January 2024. Similar ETFs for Bitcoin and Ether were launched in Hong Kong in April, further driving digital asset adoption across the region.
