An Overwhelming Majority Of Asian Private Wealth Is Investing In Crypto

A recent report by Aspen Digital indicates that 76% of private wealth in Asia has engaged with digital assets, with an additional 18% intending to invest in the future. Interest in digital assets has surged since a 2022 survey conducted by the Hong Kong-based wealth management platform, which revealed that only 58% of respondents had explored this space.

Renewed Enthusiasm

The report gathered insights via 80 family offices and high-net-worth individuals across Asia, primarily managing assets between $10 million and $500 million. Among those already investing in cryptocurrencies, 70% have dedicated less than 5% of their portfolios to digital assets, although some have raised their allocations to over 10% in 2024.

The attraction to blockchain-based technological benefits is evident, with two-thirds of participants expressing interest in decentralized finance (DeFi) and 61% showing enthusiasm for artificial intelligence and decentralized physical infrastructure networks (DePIN). Aspen Digital also highlighted that respondents are generally optimistic about Bitcoin for the rest of 2024, with 31% forecasting a price of $100,000 by year-end.

Growing Interest

The recent approval of spot Bitcoin exchange-traded funds (ETFs) has enhanced interest in digital assets among Asian investors, as 53% of participants are now exposed through funds or ETFs. This trend mirrors global shifts noted in the recent Global Crypto Hedge Fund Report by AIMA and PwC.

Their survey of nearly 100 hedge funds managing a combined $124.5 billion reported an increase in crypto exposure to 47% in 2024, driven by clearer regulations and the introduction of crypto ETFs in the United States and Asia. Spot Bitcoin ETFs began trading in the US in January 2024, followed by the launch of spot Bitcoin and Ether ETFs in Hong Kong in April.