Hong Kong and Singapore billionaires Looks like it’s looking to invest in digital assets. After a new report from KPMG indicates that more than 90% of private companies manage investment management for wealthy families. and high-income individuals (HNWI) are interested in investing in the digital asset space or already have it.
according to reportsAn Oct. 24 report from KPMG China and Aspen Digital titled “Digital Asset Investing” found that 58% of private equity firms managing investment and wealth management for wealthy families and HNWI of respondents in A recent survey has invested in digital assets and 34% “plan to do so.”
The survey was based on data from 30 wealth management firms for wealthy families and HNWI in Hong Kong and Singapore. Most respondents managed between $10 million and $500 million in assets.
KPMG says crypto demand among the wealthy has been driven by an increase in cryptocurrencies. It also stated that institutions also have greater access to digital asset financial products. This includes regulated products.
However, the allocation is still relatively small. Most of them allocate less than 5% of their portfolios to digital assets. Most of them are in Bitcoin, Ether and stablecoins.
Respondents cited market volatility and difficulty getting accurate valuations. and a lack of regulatory clarity around digital assets. It remains a barrier to investment in this sector.
“Since digital assets are relatively new Therefore, there are still some uncertainties regarding investments in this sector. especially regarding regulations and valuations,” said the report’s authors.
However, KMPG noted that regulatory clarity in both countries could change for the better.
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