Whereas the curiosity in crypto investments was on the rise final 12 months amongst residence places of work, 2023 noticed an enormous decline in buyers’ certainty in regards to the digital belongings market. 

According to a Goldman Sachs report revealed on Might 8 titled “Eyes on the Horizon: Household Workplace Funding Insights,” 32% of household places of work at the moment maintain investments in digital belongings. This class consists of cryptocurrencies, nonfungible tokens (NFTs), decentralized finance (DeFi) and blockchain-focused funds.

Primary motivations of family offices to invest in digital assets. Source: Goldman Sachs 

Explaining their motivations for investing in digital assets, most (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 proportion of investments in cryptocurrencies amongst buyers taken with digital finance has risen considerably since 2021, from 16% to 26%. Nevertheless, the curiosity in potential investments in crypto has crashed this 12 months, with simply 12% of buyers indicating it, down from 45% in 2021. As highlighted within the report:

“Opinions on cryptocurrencies appear to have crystallized: a larger proportion of household places of work at the moment are invested in cryptocurrencies, however the proportion that aren’t invested and never taken with investing sooner or later has grown extra.”

The report relies on a survey performed between January and February 2023 through questionnaires distributed to residence places of work by e-mail. General, 166 residence places of work participated, 95 of that are based mostly within the Americas, 34 in Europe and the Center East, and 37 within the Asia Pacific.

Goldman Sachs appeared among the many high winners through the latest banking disaster, with many buyers deciding to rotate their portfolio investments. Goldman Sachs’ cash funds have acquired $52 billion — a 13% development — within the largest month-to-month quantity of inflows for the reason that emergence of the COVID-19 pandemic.

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