1、Family office and high-net worth investor perspectives on digital asset allocationOctober 2022Investing in Digital A summaryAbout the studyAbout KPMG ChinaAbout Aspen DigitalAcknowledgments1232343535Chapter 1:Interest in digital asset investment among FOs and HNWIs4Chapter 2:Portfolio allocation and

2、 diversification of digital asset investment10Chapter 3:Preferred platforms for digital asset investment15Chapter 4:Investing in digital asset service providers20Chapter 5:Regulatory and tax considerations for FOs/HNWIs25 2022 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global org

3、anisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.ForewordDigital assets have exploded in recent years and are now a trillion-dollar alternative asset class.Well-established cryptocurrencies like Bitcoi

4、n and Ethereum have been joined by other options including non-fungible tokens(NFTs)and decentralised finance(DeFi)tokens,while the associated infrastructure has also developed,creating a wide variety of new investment choices.The huge growth has attracted mainstream attention,with institutional inv

5、estors entering the space.However,volatility in the market has been a feature,with some digital assets experiencing significant swings in value.Family offices(FOs)and high-net worth individuals(HNWIs)have also moved into the digital asset sphere.However,while the digital assets ecosystem presents pl

6、enty of growth opportunities,it is still a new,complex and fast-moving market,with a wide range of cryptocurrencies and other digital assets available,as well as a huge array of service providers.With the global regulatory landscape still catching up with the rapid development of the sector,there re