Half of Asia's affluent investors have crypto in their portfolio: Report
Affluent investors in Asia are neither shy nor ignorant about crypto, with research revealing that 52% of them held some form of a digital asset during Q1 2022.
According to research from Accenture published on June 6, digital assets, which include cryptocurrencies, stable coins, and crypto funds, made up on average 7% of the surveyed investors’ portfolios, making it the fifth-largest asset class for investors in Asia.
It was more than they allocated to foreign currencies, commodities, and collectibles, and in some cases was on par with or exceeded the amount invested in private equity/venture capital and hedge funds.
Accenture said the survey was conducted with more than 3,200 clients across China, Hong Kong, India, Indonesia, Japan, Malaysia, Singapore, and Thailand. The company defines an affluent investor as anyone that manages investable assets of between US$100,000 to $1 million.
Investors in Thailand and Indonesia had the largest percentage of digital assets in their portfolios compared to their peers.
Though half of the investors in Asia were already holding digital assets in Q1 2022, Accenture’s research indicates that a further 21% are expected to invest in them by the end of 2022, meaning as many as 73% of wealthy Asian investors could hold a digital asset by the end of the year.
However, the firm found that wealth management firms, those that provide financial planning, tax, investment advice, and estate planning to their clients, have been slow to board the crypto train. 67% of wealth management firms said they have no plans to offer digital asset products or services.
Wealth management firms cited a lack of belief and understanding of digital assets, a wait-and-see mindset, and the operational complexity of
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