The latest report from BNY Mellon, the oldest bank in the USA, reveals a growing interest in cryptocurrencies among institutional investors.
According to the report, family offices are increasingly diversifying their portfolios by adding cryptocurrencies. BNY Mellon states that cryptocurrencies now make up 5% of family office portfolios, with approximately 39% of family offices actively investing or considering investing in this asset class.
While some family offices remain hesitant due to concerns about the volatility and regulatory environment of cryptocurrencies, others are embracing the opportunity to explore new and emerging investment options. The report highlights that family offices are demonstrating their readiness to venture into this modern asset class.
Family offices, established by wealthy families to manage their wealth and plan for the financial future of their families, are turning to cryptocurrencies as a way to take advantage of investment opportunities and provide additional services to family members.
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