32% of home offices invest in digital assets: Goldman Sachs
While the interest in crypto investments was on the rise last year among home offices, 2023 saw a massive decline in investors’ certainty about the digital assets market.
According to a Goldman Sachs report published on May 8 titled “Eyes on the Horizon: Family Office Investment Insights,” 32% of family offices currently hold investments in digital assets. This category includes cryptocurrencies, nonfungible tokens (NFTs), decentralized finance (DeFi) and blockchain-focused funds.
Explaining their motivations for investing in digital assets, most (19%) cited a belief in the power of blockchain technology, with only 8% and 9% citing speculation and portfolio diversification, respectively.
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The proportion of investments in cryptocurrencies among those investors, who keep up with digital finance, has risen significantly since 2021 — from 16% to 26%. However, the interest in potential investments in crypto has crashed this year, with just 12% of investors indicating it, down from 45% in 2021. As summed up in the report:
The report is based on the survey, concluded from January to February 2023, via questionnaires, distributed to home offices by email. Overall, 166 home offices participated, 95 of them based in the Americas, 34 in Europe and the Middle East, and 37 in Asia Pacific regions.
Goldman Sachs appeared among the top winners during the recent banking crisis, when many investors have decided to rotate their portfolio investments. Goldman Sachs’ money funds have received $52 billion, a 13% growth, in the biggest monthly volume of inflows since the emergence of the Covid-19 outbreaks.
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