94% of Asian private wealth is investing or considering crypto: Report

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As a seasoned crypto investor with roots deeply entrenched in the dynamic Asian market, I find the recent Aspen Digital report both intriguing and validating. Having witnessed the meteoric rise of digital assets in this region, it’s reassuring to see that my observations align with the industry trends. The 76% of private wealth dabbling in digital assets and the additional 18% planning future investments is a testament to the growing acceptance and interest in this space.

Approximately three-quarters (76%) of private wealth in Asia have already ventured into digital assets, while a further 18% intend to invest in them in the future, according to a recent study by Aspen Digital.

There’s been an increase in Asian high net worth individuals showing interest in digital assets since a study by a wealth management platform based in Hong Kong was conducted in 2022. Back then, just over half (58%) of the surveyed respondents were already active in the digital asset market.

As a researcher, I delved into an analysis that scrutinized perspectives from 80 family offices and affluent individuals spread across Asia. The majority of these individuals oversee assets ranging from $10 million to $500 million.

As a researcher delving into the world of cryptocurrencies, I’ve uncovered an interesting pattern. About 70% of those who are already invested in this digital realm have placed less than 5% of their total portfolio in these assets. However, some have significantly boosted their holdings, with allocations surpassing 10%, by the year 2024.

It seems that more and more Asian private investors are becoming interested in the financial prospects offered by the technologies used in blockchain.

Approximately 66% of the survey participants demonstrated an interest in Decentralized Finance (DeFi), whereas a slightly lower, but still substantial, 61% expressed interest in both Artificial Intelligence and Decentralized Physical Infrastructure Networks (DePIN).

As a crypto investor, I’m quite hopeful about Bitcoin‘s (BTC) future this year. In fact, according to Aspen Digital, around 31% of other investors share the same optimism, forecasting that the price could hit $100,000 by December 2024.

More exposures from ETFs

Approval for Bitcoin exchange-traded funds (ETFs) in the spot market has sparked increased interest in digital assets from Asian investors. In fact, a significant number of these investors, approximately 53%, have chosen to invest via funds or ETFs.

As a researcher, I’ve noticed that this trend mirrors worldwide advancements, as evidenced in the latest Global Crypto Hedge Fund Report jointly published by AIMA and PwC.

The survey, conducted among approximately 100 hedge funds distributed across six different geographical areas (managing a total of $124.5 billion), revealed an increase in cryptocurrency investments from 29% in 2023 to 47% in 2024. This surge can be attributed to the emergence of clearer regulations and the introduction of crypto Exchange-Traded Funds (ETFs) in both the United States and Asia.

2024 marked the commencement of trading for Bitcoin ETFs in the U.S. in January, whereas Bitcoin and Ether ETFs were introduced for trading in Hong Kong in April.

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2024-10-17 05:03