Family Offices Snub Crypto and Gold Amid Global Turbulence

It is a truth universally acknowledged that family offices, though possessed of ample means, display a most prudent forbearance toward the newer intrigues called crypto and gold, even in the face of the world’s continual perturbations, as reported by the venerable J. P. Morgan Private Bank.

According to their account, portfolios remain steadfastly anchored in the familiar, leaving the adventurous crypto ventures with exceedingly little footprint.

“On average, approximately 75% of assets are allocated to a combination of public equities and alternatives investments, with U.S. large-cap equities dominating public holdings and drawdown funds leading privates. Also revealing are the areas where many offices are not investing (Exhibit 4). Despite the headlines and hype around crypto and other digital assets, the vast majority of family offices (89%) remain on the sidelines.”

The bank adds that this hesitation reflects an unresolved debate within the industry itself, a conundrum that would make even a well-informed aunt pause in her tea.

“This could reflect a debate that we are also having within J.P. Morgan: What role should cryptocurrency and other digital assets play in a portfolio, and, perhaps more importantly, how much should a portfolio own, given their elevated volatility and inconsistent correlation with other assets?”

The findings are based on an online survey of 333 single family offices across 30 countries, including 197 participants in the United States and 136 internationally, with responses anonymized and analyzed by an independent research firm.

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2026-02-03 13:42