Goldman Sachs: Crypto Investments in Family Offices Rise Despite 2023 Market Slump
In spite of the ongoing cryptocurrency market downturn, family offices are ramping up their investments in crypto assets, according to a recent report released by U.S. investment bank Goldman Sachs.
This latest study examines the activities of family offices across the world and the investment strategies they employ. The investment bank says the publication shows the perspectives of 166 family office decision-makers from across the globe, combined with its analysts’ collective observations from working with family offices and family-controlled enterprises. More than 70% of the respondents have a net worth of at least $1 billion, and more than 90% demonstrate in-house investment management capabilities.
One of the market trends identified by Goldman Sachs' analysts is a rising share of investments in digital assets in the portfolios of numerous family offices from around the world, the U.S. bank said.
"Across products, 32% of family offices currently invest in digital assets. Within the digital-asset ecosystem, family offices have become more decisive about cryptocurrencies: the proportion that are invested has risen from 16% in 2021 to 26%,” according to Goldman Sachs.
"However, the proportion that are not invested and not interested for the future has risen from 39% to 62% and those that are potentially interested for the future has fallen from 45% to 12%," the report said.
The surveyed family offices invest in a wide range of digital assets, including cryptocurrencies, blockchain technology, stablecoins, non-fungible tokens (NFTs), decentralized finance (DeFi), as well as blockchain-focused funds, as indicated by the latest study.
"Among those that do, the most common primary rationale is their belief in the power of
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