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Goldman Sachs Study Reveals Growing Engagement of Family Offices in Digital Assets

32% of International Family Offices Invest in Cryptocurrencies, NFTs, and DeFi, According to Research

Mon, 15 May 2023, 14:30 pm UTC

In a novel study conducted by financial powerhouse Goldman Sachs, it was found that 32% of international family offices are engaging with the digital asset space. This includes investments in cryptocurrencies, NFTs, and DeFi, with 26% specifically venturing into cryptocurrencies.

The research was carried out with a pool of 166 family offices spread across the Americas, EMEA, and the APAC region, aiming to discern how their investment methodologies have transformed in recent years.

Compared to the 2021 figures, which indicated that only 16% of surveyed entities had delved into digital currencies, the current year shows a substantial leap to 26%. However, this increased investment doesn't necessarily signify a heightened interest in the sector.

The study by Goldman Sachs also unveiled that 32% of the surveyed entities are currently involved in some way with digital assets, which encompasses a broad spectrum from cryptocurrencies and stablecoins to NFTs, DeFi, and blockchain-centric funds.

The driving force for entering this ecosystem for 19% was their faith in the transformative potential of blockchain technology. For 9%, it was an opportunity to diversify their investment portfolios, while 8% saw digital currencies as a viable store of value. Another 8% bought into Bitcoin and other altcoins with an eye on profits or speculation.

Of the HODLers, the APAC region boasts the highest proportion of 30%, with 27% of non-crypto-investing family offices in the area still showing interest in future possibilities.

Contrastingly, the EMEA region demonstrated a starkly different trend, with a paltry 15% of cryptocurrency investors and a staggering 79% expressing no inclination to join the crypto bandwagon.

In a separate study by Aspen Digital and KPMG China, it was found that nearly 60% of family-based offices and affluent individuals based in Hong Kong and Singapore have allocated a portion of their money to digital assets.

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