[NEWS] 76% of Asia's wealthy have invested in crypto assets, a big increase compared to 2022

Digital asset platform Aspen Digital released a report on the Asian cryptocurrency market on the 17th.

According to the report, 76% of wealthy individuals in Asia are currently investing in crypto assets. This is an increase from 58% in a report published jointly with KPMG in 2022.

The report, created by Aspen Digital in collaboration with Singapore-based SBI Digital Markets and the Hong Kong Family Office Association, revealed that interest in crypto assets is heavily influenced by market trends.

The report is based on a survey of approximately 100 family offices, wealthy individuals, and asset management companies in Asian countries such as Hong Kong, Singapore, and Japan. 31% of respondents predict that the price of Bitcoin (BTC) will reach $100,000 (approximately 15 million yen) by the end of 2024.

Elliot Andrews, CEO of Aspen Digital, said in the report, "In the private wealth sector, the debate has shifted from whether crypto is an investable asset class to what percentage of a portfolio should be allocated to it. Crypto spot ETFs, which have only just launched this year, are the fastest growing in history, and while they have only been adopted by a small number of institutional investors yet, they give great legitimacy to the crypto asset class." He suggested that investor sentiment is changing with the emergence of Bitcoin spot ETFs and Ethereum spot ETFs.

Institutional investors are interested in RWA tokenization

CK Ong, COO of SBI Digital Markets, emphasized that institutional investors are currently paying particular attention to the tokenization of RWAs (Real World Assets).

He noted that while "many institutional investors have expressed interest in considering tokenized RWA," "most still need time to develop the risk and security frameworks necessary to evaluate and accept tokenized products," noting that the hurdles to widespread adoption remain high.

Aspen Digital is a digital asset technology platform that enables asset managers to provide their clients with access to emerging asset classes. Through one platform, asset managers and clients can connect with a variety of counterparties, including exchanges, staking providers, structured products, and custody, helping managers understand the ecosystem.

Aspen Digital was jointly established in Hong Kong by Everest Venture Group and TTB Partners in 2021 and is backed by investors such as Rothschild Family, Liberty City Ventures, and other prominent Asian funds, single family offices, and multi-family offices.

SBI Digital Markets is a subsidiary of SBI Digital Asset Holdings, the digital asset division of SBI Group, a leading Japanese financial company. With the largest securities account customer base and second largest trading market in Japan, the SBI Group has a global network spanning 25 countries, including major markets in Asia and Europe.

Reference: Aspen Digital
Image: announcement

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