Over 50% Of Rich Asian Investors Had Crypto In Q1 2022

Accenture, a megacorporation in the IT sector, has released a survey result. The survey analyzed the digital asset portfolio of Asian investors. It also considered if they are interested in holding crypto indirectly or directly. 

Additionally, it sampled 3,200 participants with assets from $100,000 to $5,000,000. The countries considered include Japan, Indonesia, India, and Hong Kong. 

Rich Asians Show Interest In Crypto

Accenture IT firm conducted a study dubbed “Digital assets: Unclaimed territory in Asia.” The study showed that about 52% of affluent Asian investors possessed crypto in Q1 2022. 

Also, Accenture predicts that the figure could rise to 73% before 2022 ends. The investors’ holding includes crypto funds, tokenized assets, and cryptocurrencies.

In addition, 72% of rich Singaporeans have invested in digital assets. Also, 14% have a strong interest in such investments in the future. 

As digital assets have increased over the years, some investors have bought digital assets. Most of them invested over 7% of their assets in digital assets. 

This makes it the 5th largest asset held by wealthy investors in the region. Assets in the first four positions are real estate, fixed income, cash, and equities.

After the firm interviewed 550 asset managers in the financial sector, it concluded. Over two-thirds of the asset managers do not plan to offer crypto investment services. 

The study added that the unavailability of financial advisors is harming investors. This is because most of them have sought advice from unregulated sources like social media.

Asset Managers Still Holding Back On Crypto

Furthermore, the report highlighted three main factors stopping asset managers from crypto investments. One of them is disbelief in the crypto-asset industry. Most investors believe it is too risky.

Another factor is the wait-and-see mindset shown by several investors. Investors prefer to stay on the sidelines and see how the market is going. 

Lastly is the complex process of operation needed to launch crypto services. This complexity is due to the regulatory framework on digital assets. However, the research showed that 75% of these investors consider having digital assets later.

Another survey revealed that 72% of 500 financial advisors endorse crypto investment. They will put client funds in crypto if the US SEC accepts a spot ETF. 

Several financial investors are willing to invest in crypto if there are clear regulations. As the adoption of crypto increases, investors are looking for safe ways to enter the sector.