A research report has noted how interest in crypto investments from private wealth in Asia has increased steadily, with 94% expressing optimism.
Aspen Digital, a wealth management firm, has recently published a report on crypto investments in Asia. According to the results of a survey it conducted, 76% of private wealth in Asia has exposure to digital assets. Further, another 18% are considering crypto investments. Thus, 94% of all private wealth in the region will likely consider crypto as a favorable investment class.
The firm started conducting the survey in 2022 when it found that 58% of its respondents had invested in digital assets. In just two years, this number has surged considerably. Their list of respondents included individuals with high net worth and several family offices managing wealth ranging between $5 million and $500 million.
Aspen Digital’s research found that 70% of the crypto investors had allocated less than 5% to crypto. However, by 2024, the number may have increased to 10%. Core areas of interest in blockchain included decentralized finance, AI and DePIN, blockchain infrastructure, and real-world asset tokenization.
Meanwhile, representatives of Aspen Digital also attributed crypto ETFs for leading this change.
Elliot Andrews, the CEO of Aspen Digital, said, “Despite only being launched this year, the ETFs are the fastest growing of all time. These have still only been adopted by a small proportion of institutional investors but have added a huge amount of legitimacy to the asset class.”
The Family Office Association of Hong Kong and SBI Digital Markets of Singapore also contributed to the research report. The report also noted how 31% of their respondents were bullish on Bitcoin. They predicted a $100,000 price target for BTC by the end of 2024. This could be a sign of growing acceptance of crypto as an investment.
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