Bitcoin

Read

Around 55% of American family offices plan to increase their cryptocurrency investments or have had limited exposure to crypto, according to a BNY Mellon study. 
More than 30% of family offices in the U.S. are actively investing in crypto and even may increase their holdings, a recent report by <a href="https://crypto.news/tag/bny-mellon/" target="_blank" rel="">BNY Mellon</a> reveals, highlighting growing interest in digital assets among wealthy families. 
The report comes as the U.S. Securities and Exchange Commission (SEC) <a href="https://crypto.news/sec-approves-spot-bitcoin-etf-on-accelerated-basis/" target="_blank" rel="">approved</a> the first spot Bitcoin exchange-traded funds (<a href="https://crypto.news/tag/bitcoin-etf/" target="_blank" rel="">ETFs</a>) earlier in January, integrating crypto into the mainstream investing environment. According to BNY Mellon’s <a href="http://info.bnymellonwealth.com/rs/636-GOT-884/images/GFO_Investment_Research_Report_2024_BNY_Mellon_WM.pdf?data=h9shhacrypto98ydsnews89hwd" target="_blank" rel="">findings</a>, 33% of family office professionals confirmed that they are already investing in crypto with the potential to expand their holdings. 
<figure class="wp-block-image size-full">
 <picture loading="lazy" decoding="async" class="wp-image-14277823"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/06/diufhgudfh.png.webp"> 
 <img loading="lazy" decoding="async" width="943" height="720" src="https://crypto.news/app/uploads/2024/06/diufhgudfh.png" alt="Over 30% of family offices in US 'actively investing' in crypto, BNY Mellon study finds - 22"> 
 </picture> 
 <figcaption class="wp-element-caption">
 American family offices’ involvement in crypto | Source: BNY Mellon
 </figcaption>
</figure> 
In contrast, 38% of respondents reported having no current exposure to or interest in cryptocurrencies. The remaining 30% indicated a varied level of involvement, with some having limited exposure or currently exploring the asset class without active investment. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “True to their entrepreneurial nature, family offices are showing themselves ready and willing to move into new and emerging opportunities. […] Cryptocurrencies account for 5% of portfolios, an allocation that would have been unthinkable a decade ago.” 
 BNY Mellon 
</blockquote> 
 You might also like: <a href="https://crypto.news/32-of-family-offices-embrace-crypto-goldman-sachs-states/" rel=""> 32% of family offices embrace crypto, Goldman Sachs states </a> 
The motivations for exploring cryptocurrencies among family offices appear to be diverse. Over half of the respondents mentioned “keeping up with new investment trends and opportunities” as a key driver. Additionally, 30% or more cited interest from current leadership or the next generation within the family office as influential factors. 
Despite the interest, the report identified the “not well-defined” regulatory environment as a significant barrier to investment. Nevertheless, 55% of family offices expressed favor for public market ETFs that own cryptocurrencies, while 54% showed a preference for trading directly on exchanges. 
 Read more: <a href="https://crypto.news/asias-family-offices-increase-focus-on-digital-assets-amid-growing-market-interest/" rel=""> Asia’s family offices increase focus on digital assets amid growing market interest </a>

Over 30% of family offices in US ‘actively investing’ in crypto, BNY Mellon study finds

crypto.news

Other articles published on Jun 6, 2024

Marosca Coin Locks $14.13M in $MAROSCA Tokens Using FlokiFi Locker

McDonald’s ‘My Happy Place’ Metaverse To Offer Free Yearly Meals

Coinbase Sees $500 Million Bitcoin Outflows as Spot ETFs Surge

Bit2Me Breaks the Market with UFC Champion Ilia Topuria

Ronin Forge Web3 Early Access Program Launches On Ronin Blockchain, Here’s All

BetFury Announces $20 Million Cryptodrop Event (6 Jun)

Join our free newsletter for daily crypto updates!