US family offices are moving to Bitcoin, according to a report from BNY Mellon
US Family Offices Are Moving Into Bitcoin Investments According to a Recent BNY Mellon Report.
What the report finds, is that these private wealth management firms allocate approximately 5% of their portfolios to digital currencies currently.
According to BNY Mellon's 2024 Wealth Management Survey, 39% of family offices are investing in or considering adding cryptocurrencies to their investments. This is a huge step towards the adoption of digital assets that were unheard of 10 years ago.
Yet with all this interest, 38% of participants are still undecided. The parties expressed concern about the volatile prices of digital currencies, regulatory gray areas in the crypto space, the behind-the-scenes risk of cybercrime and hacking.
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Bitcoin ETFs recorded the third largest daily capital inflowThe report highlights that a large number of people who are interested in cryptocurrencies prefer spot cryptocurrency ETFs to direct exchange trading.
As for their investment attitudes, family offices, with their innovative approach to wealth management, are increasingly open to discovering potential new investments.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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