Rich people from Singapore and Hong Kong have that in their portfolios

Bitcoin, Altcoins or rather NFTs? Noisy Statista is said to currently have over 9,000 cryptocurrencies worldwide – in July this year there were even over 10,500.

While Western Europe operates as the largest crypto economy in the world, the adoption of Bitcoin and Co. is increasing rapidly, especially in Asia.

A new report by KPMG China and Aspen Digital now provides further insights into investment behavior with regard to digital assets. According to their own statements, a total of 30 family offices (FOs) and wealthy individuals (high-net-worth individuals, HNWI) in Singapore and Hong Kong were surveyed in Q2 2022. Strange: If you take a closer look, the sources only refer to people Hong Kong.

According to this, more than half (58 percent) of those surveyed are already invested in digital assets. A third (34 percent) are at least interested in it. According to the report, 8 percent state that they do not invest in Bitcoin and Co.

According to the study, the majority of respondents are primarily concerned about the regulation of digital assets. Half of the survey participants are said to have concerns due to the high volatility in the crypto sector (50 percent) and the limited research and evaluation of digital assets (50 percent). With 37 percent of all respondents, tax issues also contribute to the uncertainty.

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In the city-state of Singapore in particular, the focus currently seems to be on consumer protection with regard to cryptocurrencies. The Monetary Authority of Singapore (MAS) – Singapore’s central bank and financial market regulator – published two new regulatory recommendationsto strengthen investor protection in the crypto sector.

Accordingly, the MAS calls on companies to “properly separate customer assets”. In addition, it should be forbidden to allow small investors “to use credit facilities and leverage” in crypto trading.

Crypto in the portfolio: “All-in” looks different

When it comes to the portfolio, however, cryptocurrencies only play a minor role compared to traditional assets.

According to the report, 60 percent of those surveyed have less than 5 percent of their portfolio attributable to digital assets, and 10 to 20 percent of a fifth (20 percent) of the participants. For 6 percent, digital assets make up 30 percent or more of the portfolio.

However, another question is how the desired portfolio should look like: According to this, 40 percent state that they want to invest between 5 and 10 percent of their portfolio in digital assets, while a third (33 percent) leave it at less than 5 percent of the portfolio want.

The situation is clearer when it comes to the choice of asset: All respondents who are already investing in digital assets should have Bitcoin (BTC) in their portfolio, 87 percent of them Ethereum (ETH).

Stablecoins and NFT and Metaverse assets are each included in 60 percent of the survey participants. In almost half (47 percent), DeFi tokens are said to have found their place in the portfolio.