Friday, 27 December 2024
Trending

Crypto News

32% of home offices invest in digital assets: Goldman Sachs

32% of home offices invest in digital assets: Goldman Sachs

While the interest in crypto investments has been on the rise last year among the home offices, 2023 saw a massive decline in such investors’ certainty about the digital assets market. 

According to a Goldman Sachs report on May 8, named “Family Office Investment Insides,” 32% of family offices currently hold investments in digital assets. This category includes not only cryptocurrencies but also nonfungible tokens (NFTs), decentralized finance (DeFi) and blockchain-focused funds.

Primary motivations of family offices to invest in digital assets. Source: Goldman Sachs 

Explaining their motivations for investing in digital assets, the majority (19%) named the belief in the power of blockchain technology, whereas only 8% and 9% cited speculation and portfolio diversification, respectively.

Related: Concern over banking crisis reaches levels unseen since 2008 — Poll

The proportion of investments in cryptocurrencies among those investors, who keep up with digital finance, has risen significantly since 2021 — from 16% to 26%. However, the interest in potential investments in crypto has crashed this year, with just 12% of investors indicating it, down from 45% in 2021. As summed up in the report:

“Opinions on cryptocurrencies seem to have crystallized: a greater proportion of family offices are now invested in cryptocurrencies, but the proportion that are not invested and not interested in investing in the future has grown more.”

The report is based on the survey, concluded from January to February 2023, via questionnaires, distributed to home offices by email. Overall, 166 home offices participated, 95 of them based in the Americas, 34 in Europe and the Middle East, and 37 in Asia Pacific regions. 

Goldman Sachs appeared among the top winners during the recent banking crisis, when many investors have decided to rotate their portfolio investments. Goldman Sachs’ money funds have received $52 billion, a 13% growth, in the biggest monthly volume of inflows since the emergence of the Covid-19 outbreaks.

Magazine: Crypto audits and bug bounties are broken: Here’s how to fix them