Over 50% Of Wealthy Asian Investors Owned Cryptocurrency In Q1, 2022.

According to Accenture, 52% of affluent Asian investors currently own digital assets, with another 21% anticipated to join the club by the end of the year.

Accenture, the multinational IT services company, issued a new survey assessing affluent Asian investors’ portfolios on digital assets, stating that the majority of them are willing to hold cryptocurrencies directly or indirectly. The poll included 3,200 participants from Hong Kong, India, Indonesia, Japan, and other countries, with investable assets ranging from $100,000 to $5 million.

Accenture reported that 52% of affluent Asian investors had digital assets as of Q1 2022, and that proportion might climb to 73%  by the end of the year in a study titled “Digital assets: Unclaimed territory in Asia.” Cryptocurrencies, tokenized assets, and crypto funds are among their holdings.

In particular, 72% of wealthy Singaporeans have invested in digital assets, with another 14% planning to do so in the near future. Singapore, like Thailand and India, has more than 80% of its investors showing a strong interest in digital assets.

With the recent rise of cryptocurrencies, Asian investors have allocated a portion of their portfolios to the emerging asset class. On average, wealthy investors would commit nearly 7% of their portfolio to cryptocurrency, making it the region’s fifth-largest asset class. According to Accenture’s analysis, it ranks just after equities, fixed income, cash, and real estate.

According to the report, helping customers exchange digital assets represents a $40 billion opportunity in revenue for wealth managers in Asia alone.

However, after surveying 550 wealth managers in the financial industry, the company discovered that two-thirds do not intend to offer crypto-related products to their clients. It came to the conclusion that the lack of expert financial guidance has led to investors seeking assistance through “unregulated forums” such as social media.

According to the survey, the three key issues preventing wealth managers from delving deeply into the industry are a lack of belief in digital assets, a wait-and-see approach, and the complex operational process required for establishing relevant services due to regulatory concerns.

It’s worth mentioning that more than 75% of clients surveyed said they’d like to have access to “advisory on digital asset investments” and trading help through wealth managers.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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