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While Digital Assets Remain ‘Risky Business,’ Family Offices Still Find Them Alluring

By May 9, 2024No Comments

Silver’s CEO, Fizza Khan, recently spoke with Tyrone Townsend, a freelance reporter at Crain Currency, about how digital assets, such as bitcoin, are becoming more appealing to investors, including institutional players and high-net-worth individuals, as well as family offices. 

The article presents data from Goldman Sachs, which finds that 32% of family offices have ventured into cryptocurrencies, an increase from 16% in 2021. This surge correlates with the performance of bitcoin, which has seen its value soar by 154% over the past year, and has captured the attention of family offices, who have become increasingly interested in blockchain technology, the underlying innovation behind cryptocurrencies. They are drawn to the disruptive potential of technology, which has applications across various industries, including finance, supply chain management and health care.

Digging into this recent trend, Fizza explains that the introduction of ETFs signifies a significant influx of capital into the digital asset class. “Rapid technological advancements in this sector have outpaced public comprehension, while regulatory uncertainties and resistance have hindered broader participation.”

However, “with easing regulatory resistance and the establishment of clearer frameworks, concerns regarding security and compliance for institutional investors and family offices have been mitigated,” she concludes. 

To read the full article, please visit the Crain Currency website here.