Gairika Mitra
The percentage of family offices optimistic about cryptocurrencies has doubled, rising from 8% in 2023 to 17% this year, according to a recent Citibank report. The preferred method was direct investment.
Wu Blockchain, the blockchain analytics platform, reported this development on X on Tuesday.
Citi’s “Global Family Office 2024 Survey Report highlighted that digital asset interest continues to grow, with both large and small family offices showing similar enthusiasm. It wrote that approximately 25% of respondents have either already invested in digital assets or plan to do so. The early adopters segment, currently at 17%, is expected to expand in the coming years as these offices have already made some allocations to digital assets or crypto-related investments.
Additionally, another 10% of family offices are classified as “digital asset curious,” meaning they are exploring potential allocations while still researching the topic or seeking guidance.
Source: Citi bank
Shifting Priorities in Crypto Investment Across Regions
The report further noted that when it comes to asset types, direct investment in cryptocurrencies remains the most popular choice, attracting 24% of interest. This is followed by crypto-linked investment vehicles like exchange-traded funds (ETFs) at 18%.
Notably, two-thirds of participants expressed uncertainty about which digital asset products to pursue. In terms of asset types, direct investments in cryptocurrencies and crypto-linked investment funds emerged as the top two priorities.
“Interestingly, in terms of asset types, while Asia Pacific respondents were equally interested in direct cryptocurrency holdings and crypto-linked investment funds (18% respectively), North American entities were still mostly interested in direct cryptocurrencies investments (35%) versus crypto-linked investment funds (17%),” the report said.
Apart from North America, crypto interests have spiked in other parts of the globe. As per a recent Chainalysis report, Central and Southern Asia and Oceania (CSAO) led the 2024 Index, featuring seven of the top 20 countries in the region. The CSAO boasts a distinct landscape of crypto markets characterized by significant activity on local exchanges, merchant services, and decentralized finance (DeFi).
Between the fourth quarter of 2023 and the first quarter of 2024, the total value of global crypto activity saw a significant rise, surpassing levels not seen since the crypto bull market of 2021, the report added.
On top of that, the Citi report talked of a substantial rise in DeFi activity in Sub-Saharan Africa, Latin America, and Eastern Europe. This surge likely contributed to the increased altcoin activity in these regions.
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Gairika holds positions in BTC. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
