While interest in crypto investments spiked last year among home offices, 2023 saw a massive decline in investor certainty about the digital asset market.
According According to a Goldman Sachs report published May 8 titled "Eyes on the Horizon: Family Office Investment Insights," 32% of family offices currently have investments in digital assets. This category includes cryptocurrencies, non-fungible tokens (NFTs)decentralized finance (DeFi) and blockchain-focused funds.
When explaining their motivations for investing in digital assets, the majority (19%) cited a belief in the power of blockchain technology, with only 8% and 9% citing speculation and portfolio diversification, respectively.
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The share of cryptocurrency investments among investors interested in digital finance has increased significantly since 2021, from 16% to 26%. However, interest in potential cryptocurrency investments has plummeted this year, with just 12% of investors indicating so, down from 45% in 2021. As highlighted in the report:
"Crypto views seem to have crystallized: a larger proportion of family offices now invest in crypto, but the proportion that do not invest and are not interested in investing in the future has grown more."
The report is based on a survey conducted between January and February 2023 through questionnaires distributed to headquarters via email. Overall, 166 home offices participated, 95 of which are in the Americas, 34 in Europe and the Middle East, and 37 in Asia Pacific.
Goldman Sachs emerged among the top winners during the recent banking crisis, and many investors decided to rotate their portfolio investments. Goldman Sachs money funds have received $52 billion, up 13%, in the largest monthly volume of inflows since the outbreak of the COVID-19 pandemic.
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