Crypto Attractive to Family Offices But Regulatory Clarity Needed: Survey

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Fam­i­ly offices across the globe are show­ing height­ened inter­est in dig­i­tal assets, a new study com­mis­sioned by Oco­ri­an, a glob­al provider of ser­vices to high-net-worth indi­vid­u­als, has found. 

Though those same indi­vid­u­als strug­gle to find the nec­es­sary sup­port to nav­i­gate reg­u­la­to­ry and report­ing oblig­a­tions, accord­ing to a state­ment on Thursday. 

The study, which includ­ed 134 fam­i­ly office pro­fes­sion­als man­ag­ing around $62.4 bil­lion in assets, found 90% of par­tic­i­pants had noticed a client-dri­ven push to include cryp­to in their invest­ment strategies.

Ocorian’s find­ings pro­vide a con­trast to a recent Gold­man Sachs sur­vey, which sug­gest­ed that the inter­est in cryp­to has plum­met­ed among fam­i­ly offices. The Gold­man Sachs report indi­cat­ed that those with no inter­est in the cryp­to sec­tor had increased from 39% to 62% over the last two years.

A com­pa­ny spokesper­son told Block­works they were unsure why the results of each study var­ied wild­ly, though they sug­gest­ed it may be due to dif­fer­ences in ques­tions posed.

Inde­pen­dent research firm Pure­Pro­file, which was tapped by Oco­ri­an to car­ry out the research, did not imme­di­ate­ly respond to Block­works’ request to clar­i­fy the diver­gence in its findings.

“The grow­ing inter­est in cryp­to assets among high-net-worth indi­vid­u­als and fam­i­ly offices is unde­ni­able,” Amy Collins, Ocorian’s fam­i­ly office head, said.

Though, she expressed con­cern about the lack of ade­quate reg­u­la­to­ry and report­ing sup­port, a chal­lenge iden­ti­fied by 80% of fam­i­ly offices and high-net-worth indi­vid­u­als surveyed. 

That includ­ed con­cerns about dif­fer­ing tax regimes for dig­i­tal assets across var­i­ous juris­dic­tions. Collins also empha­sized the need for these offices to access the right exper­tise, acknowl­edg­ing the high-risk nature of the asset class.

Kather­ine Ng, man­ag­ing direc­tor of TZ APAC, a Sin­ga­pore-based team focused on the adop­tion of the Tezos blockchain, told Block­works there is a notable shift in the land­scape of fund man­age­ment solu­tions, par­tic­u­lar­ly with the emer­gence of a new wave of fam­i­ly office investors.

“The key dri­ving force behind this trend is the Gen Z cohort, whose wealth is not con­fined to banks but is rather diver­si­fied across sta­ble­coins, cryp­tocur­ren­cies and NFTs,” she said.


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