Asia’s wealthy are leaning into crypto — and markets should take note

Survey snapshot: increased buying plans that could move markets

A fresh survey by Sygnum of high-net-worth individuals (HNWIs) across Asia finds a clear shift: a large share of the region’s rich already own crypto, and many plan to increase their holdings in 2026. That matters because when wealthy, well-connected investors change their allocations, the result is not just personal portfolios shifting — it can ripple through trading volumes, custody businesses and price action for major tokens.

The headline is straightforward. A significant proportion of surveyed HNWIs say they hold crypto now and expect to buy more next year. That creates fresh, predictable demand that could lift flows into regulated custody, push up spot buying, and encourage product launches aimed at wealth managers and family offices across APAC. For investors, the survey is a red flag and an opportunity: the signals point to higher liquidity needs and rising institutionalisation — but also to concentration risks and sensitivity to local rules.

Numbers unpacked: current allocations, planned increases and regional splits

The survey reports a high penetration rate: most respondents already have some crypto exposure. On average, allocations among those who hold crypto are meaningful but not dominant, clustering around the mid-teens of investable wealth. Crucially, a majority of holders say they plan to increase those allocations in 2026 rather than trim them.

Regional detail matters. Wealthy investors in markets with clearer custody and fund frameworks — for example Singapore and Hong Kong — show higher current ownership and greater readiness to expand positions. Other markets in Southeast Asia show growing interest but a wider spread in planned allocation sizes, reflecting mixed regulation and access.

Timing also matters. Many HNWIs flagged that any increases would be phased across 2026, not all at once. Still, the aggregate intent suggests a steady stream of buying rather than a single flash surge. That pattern would support ongoing inflows into spot markets, custodial accounts and structured products, and it could steadily draw liquidity from exchanges and OTC desks.

Who is buying and what they’re buying: asset types and typical allocations

The types of crypto products that appeal to HNWIs are familiar: spot Bitcoin and Ethereum come first. Beyond the two largest tokens, some buyers favour established altcoins and tokenised assets that mimic private-market exposure. There’s also interest in staking services, yield-bearing products and structured notes that package crypto exposure with downside buffers.

Typical allocations vary by profile. Ultra-high-net-worth individuals with direct exposure to tech and venture investing tend to take larger direct positions in spot coins and selective altcoins. More conservative wealth managers and family offices prefer custody-backed solutions, ETFs where available, or bank-offered structured products that offer a clearer regulatory and tax trail.

Overall, the common approach among those surveyed is modest concentration: crypto is part of a diversified portfolio rather than the core holding. Still, even modest percentage moves by a large pool of high-net-worth capital add up to meaningful demand in the market for liquid tokens and institutional custody.

From private pockets to market impact: what rising HNWI demand could mean for prices and volumes

Put simply: more buying equals more pressure on prices and volumes, especially if flows target spot markets and regulated custody. If HNWIs shift a few percentage points of their portfolios into crypto, this will show up first as higher spot volumes and larger custody inflows at regional players. That can tighten available sell-side liquidity and amplify price moves during thin periods.

Exchanges and OTC desks should see greater activity, pushing up derivatives volumes as traders hedge spot exposure. Listed firms focused on crypto services — from custodians to exchanges and public mining firms — could enjoy brighter revenue prospects if demand translates into fees and assets under custody.

However, this demand is not a guaranteed, smooth uplift for markets. High concentration of buying in a few tokens means price sensitivity to sentiment and regulatory news. A string of negative policy moves or high-profile enforcement actions in key APAC markets could reverse flows quickly. Institutions responding to stronger demand might also widen product offerings, but that takes time and depends on the regulatory backdrop.

How the survey was run — sample, timing and why numbers may over/understate future flows

The findings come from a targeted survey of APAC high-net-worth individuals conducted by Sygnum. The sample focuses on wealth managers’ clients and independent HNWIs, capturing attitudes rather than confirmed trades. Timing is key: responses reflect sentiment at the survey date and may be optimistic about plans to increase allocation.

Biases are natural. Those willing to answer a crypto survey are more likely to be pro-crypto, and intentions don’t always turn into action. Conversely, the survey may understate latent demand among more conservative HNWIs who prefer private channels or institutional products not covered in the questionnaire. Use the numbers as directional evidence, not precise flow forecasts.

Investor watchlist: key signals and dates to track ahead of potential 2026 buying

• Spot ETF inflows (where available): steady net inflows would confirm retail and institutional demand shifting into regulated vehicles.
• Custody AUM at regional banks and specialist custody providers: rises here point to more HNWI assets moving onshore.
• Exchange flows and OTC desk volumes: look for increases in spot trading and OTC block trades as family offices execute larger purchases.
• Regulatory moves in key APAC hubs: policy shifts in Singapore, Hong Kong, Japan and China-adjacent markets will shape how much of that planned buying actually happens.
• New institutional product launches: custody-backed structured notes, tokenised private assets, or bank-led staking services will accelerate adoption by cautious investors.
• On-chain indicators for Bitcoin and Ethereum: sustained upward net inflows to exchanges or into custody addresses signal real accumulation vs. short-term trading.

The survey paints a clear picture: APAC’s wealthy are more comfortable with crypto and many plan to buy more in 2026. For market participants, that could mean steadier demand, higher custody volumes and more product innovation — but also heightened sensitivity to regulatory shifts and concentration risks. Investors and managers should watch the signals above to judge if stated intent turns into meaningful market flows.