A new report from JPMorgan Private Bank reveals that 89% of surveyed family offices hold no cryptocurrency assets, even amid geopolitical uncertainties. While interest in digital assets remains low, 17% of these wealthy families plan future investments. The findings highlight a cautious approach to volatile hedges like crypto compared to more favored areas such as AI.
JPMorgan Private Bank's 2026 Global Family Office Report, based on interviews with 333 family offices across 30 countries, shows a strong reluctance among the ultra-wealthy to embrace cryptocurrencies. With an average net worth of $1.6 billion among participants, these offices allocate about 75% of their assets to public equities and alternative investments, where U.S. large-cap stocks dominate public holdings and drawdown funds lead in private markets.
The report notes that 72% of family offices have no exposure to gold, and a striking 89% steer clear of cryptocurrencies. This aversion persists despite recent market turbulence in crypto, which the report links to broader debates on portfolio roles for such assets. "Despite the headlines and hype around crypto and other digital assets, the vast majority of family offices (89%) remain on the sidelines," the report states. It adds, "This could reflect a debate that we are also having within JPMorgan: 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?"
Looking forward, only 17% prioritize crypto and digital assets for investment, far behind AI, which 65% of families plan to pursue. Natacha Minnit, Global Co-Head of the Family Office Practice at JPMorgan Private Bank, emphasized the report's depth: "This report is more than a survey, it’s the result of our collaboration with some of the world’s most sophisticated family offices."
The findings underscore limited appetite for emerging hedges amid geopolitical risks, favoring traditional strategies over speculative ones.
