A new study from the private banking services firm BNY Mellon Wealth Management found that 77% of family offices are interested in or are involved in crypto.
What’s more, 40% thought crypto was important to augmenting their strategy and over 66% intended to increase their crypto holdings within the next 12 to 24 months.
The survey process involved 200 participants, which included 56 single-family offices and 144 multi-family offices, all managing over $150 million in assets.
Half of the participants were from the United States, with others from the United Kingdom, Canada, Australia, South Africa, Italy, Germany, India, Brazil, and others. The data collection occurred between October 14 and November 8 of 2021.
The family offices’ main motivations for crypto investments were to follow the latest investment trends and the belief that crypto offers a good investment opportunity.
BNY Mellon Wealth Management has over $300 billion in total client assets as of the end of 2021, according to the firm.
Updated for clarity on BNY Mellon Wealth Management, which oversaw the survey.