52% of affluent investors in Asia already held digital assets, and another 21% are expected to join the club by the end of the year, according to Accenture.
Multi-national IT services giant Accenture published a new survey analyzing wealthy Asian investors’ portfolios on digital assets, noting that a majority of them are interested in directly or indirectly holding cryptocurrencies. The survey was conducted on the basis of 3,200 participants – from Hong Kong, India, Indonesia, Japan, and more – who have investable assets ranging from at least $100,000 to over $5 million.
Particularly, 72% of well-off Singaporean investors have put money into digital assets, with another 14% being interested in such an investment in the near future. Along with Thailand and India, Singapore has over 80% of its investors demonstrating a strong interest in digital assets. With the recent growth of cryptocurrencies, investors have divided a portion of their portfolios into the rising asset class. On average, the well-to-do investors would allocate roughly 7% of their portfolio to crypto, making it the fifth-largest asset class held by them in the region. It ranks only behind equities, fixed income, cash, and real estate, according to Accenture’s research.
The report also indicated that – solely to wealth managers in Asia – helping clients transact digital assets represents an opportunity of $40 billion in revenue.Yet, after interviewing 550 wealth managers from the financial industry, the company said two-thirds do not have plans to offer crypto-related propositions to their clients. It concluded that the lack of professional financial advisory for investors has led to them seeking advice through “unregulated forums” such as social media.
It’s worth noting that over 75% of the clients considered “advisory on digital asset investments” and the support of trading digital assets as something they would like to access through wealth managers in the future.that 72% out of 500 financial advisors will be more likely to invest client funds in digital assets if the US watchdog greenlights a spot ETF. As crypto adoption increases, investors tend to look for an easier and safer way of exposure to such an asset.
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