Wealthy families and family offices across Asia are increasing their cryptocurrency allocations, with some institutions planning to allocate about 5% of their investment portfolios to this asset class. Reuters first reported this trend, noting a wave of demand from high-net-worth individuals in Singapore, Hong Kong, and mainland China.
Wealth management professionals told Reuters that they have received more client inquiries, while cryptocurrency exchanges report rising trading volumes, and new crypto funds are also attracting strong demand.
Jason Huang, founder of NextGen Digital Venture, stated that his company raised over $100 million in just a few months for a new long-short crypto equity fund launched in Singapore in May. His previous fund ended last year with a return of 375% in less than two years.
Swiss investment bank UBS pointed out that some overseas Chinese family offices are driving this shift, noting that cryptocurrency allocations are around 5%. The bank indicated that second and third-generation members of family offices are beginning to understand and engage with digital assets.
Cryptocurrency exchanges in the region are also reporting more activity. HashKey Exchange in Hong Kong stated that as of August 2025, its registered user count has increased by 85% year-on-year, while data from CryptoQuant shows that trading volumes at South Korea's three major exchanges have risen by 17% year-to-date, with daily trading volumes climbing over 20%.
So far, the crypto boom in Asia has been driven from the bottom up. Data from Chainalysis shows that inflows in the Southeast Asia and Oceania (CSAO) region exceeded $750 billion between mid-2023 and mid-2024, accounting for about 16.6% of global trading volume. These inflows are primarily driven by retail users making transactions under $10,000 for trading, remittances, and decentralized finance (DeFi).
In Chainalysis's 2024 Global Crypto Adoption Index, India ranks first globally, with retail investors driving activity on centralized exchanges. Indonesia ranks third, propelled by grassroots DeFi participation and the rapidly growing Web3 industry.
Vietnam ranks fifth, with adoption spread across centralized platforms and DeFi. The Philippines ranks eighth, where cryptocurrency is widely used for remittances and play-to-earn games.
Singapore has also become a hub for crypto payments. Data from Chainalysis shows that merchant services in the country processed nearly $1 billion in cryptocurrency in the second quarter of 2024, with stablecoin transfers widely used for retail-level transactions.
However, East Asia presents a different picture. The region saw an increase of nearly $400 billion during the same period, with activity driven more by professional and institutional investors, and in some cases, wealthy citizens using cryptocurrency as a store of value.
South Korea received about $130 billion in cryptocurrency, making it the largest market in the region. Professional traders drove most of the activity through altcoins and stablecoins, employing arbitrage strategies related to the "kimchi premium."
Hong Kong recorded the fastest growth in the region, with activity increasing by 85.6% year-on-year. Over 40% of the inflows came from stablecoins, while the approval of three Bitcoin (BTC) spot and three Ethereum (ETH) exchange-traded funds (ETFs) in April 2024 stimulated institutional inflows and drove a shift towards directly holding BTC and ETH.
According to the 2024 Electric Capital Developer Report, Asia also accounts for 32% of active crypto developers. This proportion has risen from just 12% in 2015, with 41% of new crypto developers now coming from the region.
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Original article: “As Adoption Expands, Wealthy Asian Investors Allocate 5% of Portfolios to Cryptocurrency”
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