94% of Asian Private Wealth Engaged or Eyeing Crypto Investments

A recent study from Aspen Digital reveals that 76% of private wealth in Asia has already ventured into digital assets, with an additional 18% planning to invest in the future.

Interest in cryptocurrencies and other digital assets has surged in Asia’s private wealth sector since the Hong Kong-based firm last conducted a similar survey in 2022. Back then, only 58% of respondents had entered the digital asset space.

The survey collected responses from 80 family offices and high-net-worth individuals throughout Asia, most of whom manage assets ranging between $10 million and $500 million.

For those already invested in crypto, the majority (70%) have allocated less than 5% of their portfolios to digital assets, though by 2024, some have increased this to over 10%.

The appeal of digital assets seems to be driven by the growing potential of blockchain technology across various sectors.

Two-thirds of the respondents indicated a strong interest in decentralized finance (DeFi), while 61% are intrigued by the possibilities of artificial intelligence and decentralized physical infrastructure networks (DePIN).

The Aspen Digital report also highlighted that many participants hold a positive outlook for Bitcoin’s performance, with 31% anticipating the price to reach $100,000 by the end of 2024.

More exposures from ETFs

The recent approval of spot Bitcoin exchange-traded funds (ETFs) has significantly increased interest in digital assets among Asian investors. In fact, 53% of respondents have gained exposure through ETFs or investment funds.

This mirrors a global shift, as reflected in the latest Global Crypto Hedge Fund Report by AIMA and PwC. Their survey, covering nearly 100 hedge funds across six regions managing a combined $124.5 billion, showed crypto exposure rising from 29% in 2023 to 47% in 2024. This increase is largely attributed to clearer regulatory frameworks and the launch of crypto ETFs in both the United States and Asia.

Spot Bitcoin ETFs began trading in the U.S. in January 2024, while Hong Kong introduced spot Bitcoin and Ether ETFs in April.

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