Citigroup report: The number of interviewed family offices investing in cryptocurrencies has doubled year-on-year, accounting for 17% this year

According to the 2024 Global Family Office Survey Report recently released by Citibank, the number of family offices optimistic about cryptocurrencies has doubled from 8% last year to 17% this year, and direct investment remains their favorite form of investment. The report points out that family offices' interest in digital assets is still growing from a low base. Both large and small family offices (managing less than $500 million and more than $500 million in assets, respectively) have shown similar interest in digital assets, with direct cryptocurrencies and cryptocurrency-related investment funds being the priority targets. About a quarter of respondents have invested or plan to invest in digital assets, with 17% classified as early adopters and 10% classified as "digital asset curious". Family offices still prefer to invest directly in cryptocurrencies, with 24% of surveyed entities investing directly in digital assets. At the same time, 18% of family offices have invested through ETFs. Compared with small family offices, large family offices are more interested in tokenized real-world assets (RWA), with 11% of large family offices holding cryptocurrency exposure, while small family offices only account for 3%. On the other hand, smaller family offices have a greater appetite for derivatives, with 8% holding exposure to these products, compared to 3% of larger family offices. The report also highlights that family offices still lack proper crypto education, as two-thirds of participants remain undecided about which digital asset products to explore. In addition, Asia Pacific leads in digital asset adoption, with 37% of family offices investing or interested in investing in digital assets. One in 20 family offices in the region reported that more than 10% of investable assets are digital assets. Meanwhile, Latin American family offices have the lowest interest, with 83% not prioritizing allocations to digital assets. (CryptoSlate)