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Among wealthy Asian investors, 52% hold crypto, a survey finds
52% of wealthy Asians held crypto in the first quarter of 2022, but 67% of asset managers have no plans to offer related services, an Accenture survey found Investors in Indonesia and Thailand had the largest share of digital asset allocation compared to peers as investors face seismic economic changes such as rising inflation and rising As people struggle with the cost of living, more investors are turning to investments designed to insulate their assets. According to new research from Accenture, 52% of wealthy Asian investors held digital assets – including cryptocurrencies, token assets and crypto funds – in the first quarter of 2022. The study found that…
Among wealthy Asian investors, 52% hold crypto, a survey finds
- 52 % der wohlhabenden Asiaten hielten im ersten Quartal 2022 Krypto, aber 67 % der Vermögensverwalter haben keine Pläne, entsprechende Dienstleistungen anzubieten, wie eine Accenture-Umfrage ergab
- Investoren in Indonesien und Thailand hatten im Vergleich zu Mitbewerbern den größten Anteil an der Allokation digitaler Vermögenswerte
As investors grapple with seismic economic shifts such as rising inflation and rising costs of living, more investors are turning to investments designed to insulate their assets. According to new research results from Accenture 52% of wealthy Asian investors held digital assets – including cryptocurrencies, token assets and crypto funds – in the first quarter of 2022.
The study found that digital assets make up 7% of these investors' portfolios, making them the fifth largest asset class in Asia. This means it receives a larger share of investment than foreign currencies, commodities or collectibles in the region.
Stocks, fixed income, cash and real estate have a heavier weighting in their portfolios compared to digital assets, which Research showed.
A further 21% are expected to enter the asset class by the end of 2022, suggesting that up to 73% of wealthy Asian investors would hold digital assets by then.
Accenture said about 3,200 consumers responded to the survey and have investable assets ranging from at least $100,000 to more than $5 million. They came from mainland China, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore and Thailand. Investors in Indonesia and Thailand had the largest allocation to digital assets compared to their peers in the first quarter of 2022.
Although the key statistic suggests that a large proportion of Asian investors want services related to digital assets, the study found that 67% of asset management firms do not yet plan to pursue it.
Asset managers remain cautious
Reluctance due to unclear regulation is one of the factors holding asset managers back. They prefer to either maintain a wait-and-see approach and not fully believe in the potential of the asset class, or they anticipate complexities arising from different regulatory and operating models.
“We would need to be able to provide an in-depth overview of major crypto coins, which requires specialized research capabilities,” said Sacha Walker, head of strategy and business operations for the Asia Pacific region at Julius Baer.
“In addition, we are currently reviewing a compliant offering for eligible clients. This includes educating and educating relationship managers and clients on the risks, suitability and functionality of digital assets.”
One downside of wealth management firms that don't offer digital asset services is that they force clients to search online for advisory information that could be far less reliable, according to Accenture.
The company estimates that digital assets represent a $54 billion market opportunity in Asia, of which $40 billion comes from transaction fees. The rest is divided into advisory and custody fees.
A similar survey conducted by Gemini earlier this year shows that about 40% of crypto owners around the world purchased digital assets for the first time in 2021. It revealed that crypto ownership was highest in Brazil and Indonesia.
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The post Among Wealthy Asian Investors, 52% Hold Crypto, Survey Finds is not financial advice.