Study: More than half of wealthy Asian investors were exposed to cryptocurrency in Q1 2022
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Answer Study: More than half of wealthy Asian investors were exposed to cryptocurrency in Q1 2022
Accenture, a multinational IT services giant, has published a new survey analyzing the portfolios of wealthy Asian investors and their exposure to cryptocurrencies, noting that the majority of them are interested in holding cryptocurrencies directly or indirectly.
The survey was conducted on the basis of 3,200 respondents from Hong Kong, India, Indonesia, Japan and others with investable assets ranging from at least $100,000 to more than $5 million.
Rich Asians Are Interested In Cryptocurrency:
in study titled “Digital Assets: Unclaimed Territory in AsiaAccenture found that 52% of wealthy investors in Asia own digital assets as of the first quarter of 2022, and the percentage is expected to rise to 73% by the end of the year.Read:Cryptocurrency lending platform Cred submits a request for bankruptcy protection … Details here
The holdings of wealthy Asians include cryptocurrencies, crypto assets, and crypto funds.
In particular, 72% of wealthy Singaporean investors have invested money in cryptocurrencies, with another 14% interested in such an investment in the near future.
Besides Thailand and India, Singapore has more than 80% of its investors who show a strong interest in cryptocurrency.
With the recent growth in cryptocurrencies, investors have divided a portion of their investment portfolios into the crypto-digital asset class.
On average, wealthy investors allocate nearly 7% of their portfolio to crypto, making it the fifth largest asset class they hold in the region.
According to Accenture’s research, cryptocurrencies are only behind stocks, cash, and real estate.
The report also indicated that helping wealthy clients deal with digital assets represents an investment opportunity of $40 billion in revenue.
After interviewing 550 wealth managers from the financial industry, the company behind the study said that two-thirds of them had no plans to make crypto-related proposals to their clients.
It concluded that the lack of professional financial advice to investors led them to seek advice through unregulated forums such as social media.Read:Binance’s acquisition of FTX and a shift in rhetoric between the heads of the two companies (Binance and FTX)
It should be noted that more than 75% of clients consider digital asset investment advisory and digital asset trading support as something they would like to access in the future.
Earlier, a survey showed that 72% of 500 financial advisors would be more likely to invest client money in digital assets if the US regulator gave the green light to ETFs.
With the increasing adoption of cryptocurrency, investors tend to look for an easier and safer way to get exposure to such digital assets.
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