Family Offices Are Warming Up to Blockchain and Crypto

A report issued by Grant Thornton, a professional services network, has revealed that family offices are eyeing crypto and blockchain to increase their investments in these areas. 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 Reveals Family Offices’ Interest in Crypto and Blockchain

Family offices might be considering putting more funds behind crypto and blockchain initiatives. A recent report prepared by Grant Thornton, a professional services network that operates in over 147 markets and employs over 68,000 personnel, has revealed that family offices are warming up to crypto and blockchain. 35% of these offices hope to increase their exposure to blockchain investments, while 27% expect to increase their investments in cryptocurrency.

Nonetheless, these two investment tools are not new for this kind of institution, as more than half of the offices consulted had already invested some of their funds in crypto. As a reference, 38% of the businesses had allocated less than 1% of their portfolio to these investments.

Mian Wong, advisory director of Grant Thornton Hong Kong, stated that even with all of the uncertainty regarding cryptocurrency regulation, digital assets will be vital as alternative investments. She urged the national government to establish guarantees to ensure an orderly virtual assets market. Grant Thornton Hong Kong has attracted more than 30 family offices in Hong Kong and has received inquiries from offices all across China, Southeast Asia, Europe, and the Middle East.

In June, a Goldman Sachs survey revealed that family offices were turning to crypto due to “higher inflation, prolonged low rates, and other macroeconomic developments following a year of unprecedented global monetary and fiscal stimulus.” Nonetheless, only 15% of the 150 family offices polled by Goldman had invested in crypto and blockchain products.