According to Cointelegraph, a new report from Aspen Digital estimates that 76% of private wealth in Asia has already been involved in digital assets, and another 18% plans to invest in the future. In comparison, only 58% of respondents entered the digital asset field in 2022.
The report surveyed 80 family offices and high-net-worth individuals in Asia, most of whom manage assets between $10 million and $500 million. Of the respondents who have invested in cryptocurrencies, 70% allocate less than 5% of their portfolios to digital assets, but some will increase their allocation to more than 10% by 2024.
The report shows that Asian private wealth is increasingly interested in profit opportunities in blockchain technology applications. Two-thirds of respondents are interested in decentralized finance (DeFi), and 61% are interested in artificial intelligence and decentralized physical infrastructure networks (DePIN).
Aspen Digital also noted that respondents were generally optimistic about Bitcoin’s prospects for the rest of 2024, with 31% predicting that the price will reach $100,000 by the end of the year.
The approval of spot Bitcoin ETFs has boosted Asian investors’ interest in digital assets, with 53% of respondents gaining exposure through funds or ETFs. This trend is consistent with global developments, with AIMA and PwC’s Global Crypto Hedge Fund Report showing that crypto exposure will rise from 29% in 2023 to 47% in 2024, driven by regulatory clarity and the launch of crypto ETFs.
The spot Bitcoin ETF began trading in the United States in January 2024, and the spot Bitcoin and Ether ETFs were launched in Hong Kong in April.
