Asian wealth managers are keeping away from offering digital asset products despite surging demand, a recent survey shows.
Regulatory uncertainty and high volatility in digital assets has kept a majority of wealth managers in Asia away from digital assets, a report by consulting firm Accenture showed on Monday. 67% of wealth management firms in the region have no plans to offer digital assets.
The firm conducted two surveys, covering about 3,200 investors and over 550 financial advisors between December 2021 and January 2022.
Wealth firms expect 60% jump by 2025
According to Accenture, wealth managers are targeting 60% growth in their portfolios by 2025- something that they believe crypto cannot offer at the moment.
More than 52% of Asian investors hold digital assets like crypto or crypto investment funds, while 21% will be investing in it by the end of 2022. Several wealth managers have also faced growing calls from investors to offer products covering the space.
