Himo Liu
About 35 percent of family offices expect to increase investment in blockchain technology, and 27 percent expect to increase investment in cryptocurrency, according to research from Grant Thornton.
The report illustrates that more than half of family offices have invested in virtual assets, but only 38 percent of them allocate less than 1 percent of their portfolio to such investments.
Mian Wong, advisory director at Grant Thornton Hong Kong, said that despite global regulatory challenges for cryptocurrency companies, virtual assets will remain vital for alternative investments.
He urged the government to adapt to the evolving technological landscape, put in place necessary safeguards and ensure a more orderly virtual asset trading market after the planned issuance of platform licenses in the second half of 2024.
Deputy managing partner Eugene Ha said the government has actively pursued policies, such as attracting family offices, to encourage investment. He considered that there is no need to worry too much.
Following a major marketing campaign in March, Hong Kong attracted 30 family offices and received 100 inquiries from the mainland, Southeast Asia, Europe and the Middle East, according to the SAR's FamilyOfficeHK.
