Artificial intelligence has emerged as the leading investment theme among the world’s largest family offices, while cryptocurrencies continue to draw relatively little interest, according to a new report from JPMorgan Private Bank.
JPMorgan’s 2026 Global Family Office Report, which surveyed 333 single-family offices across 30 countries between May and July 2025, found that 65% of respondents—or 216 offices—are prioritizing AI-related investments either now or in the future. In contrast, only 17% (56 offices) identified crypto and digital assets as a key investment theme.
Crypto exposure remains minimal across family office portfolios. The report shows that 89% of family offices currently have no exposure to cryptocurrencies, while the average global allocation to crypto and digital assets stands at just 0.4%. Exposure to Bitcoin (BTC) is even lower, averaging 0.2%.
Even gold, often viewed as a traditional hedge during periods of uncertainty, commands limited interest. According to the report, 72% of respondents reported zero exposure to the precious metal. “Despite geopolitical fears, family offices avoid gold and crypto,” the report noted, adding that appetite for both traditional and emerging hedges remains limited.
Private equity tops planned allocation increases
About 59% of respondents—or 197 family offices—are based in the United States, with the remainder spread across Europe, Latin America, and the Asia-Pacific region.
Private equity emerged as the most favored asset class, with 37% of respondents planning to increase allocations over the next 12 to 18 months. Growth equity and venture capital, often seen as key entry points to early-stage AI innovation, are also gaining interest, even though more than half of family offices currently report no exposure to these segments.
Geopolitics ranks as the top risk for family offices worldwide, cited by 20% of respondents, followed by liquidity and trade policy concerns at 12% each. Worries about asset valuations, economic growth, and portfolio concentration follow closely behind.
Asian family offices increase crypto exposure
Wealthy families and family offices across Asia have been ramping up their exposure to cryptocurrencies, according to a Reuters report published last year, with some targeting allocations of around 5% of their portfolios. The report highlighted growing interest in Singapore, Hong Kong, and mainland China, driven by rising client inquiries, stronger trading volumes, and fresh demand for crypto-focused investment funds.
In June, VMS Group, a Hong Kong–based multi-family office managing $4 billion in assets, announced plans to enter the crypto market for the first time. The firm said it is considering investments of up to $10 million in strategies run by Re7 Capital.
