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ARTICLE · 01 AUGUST 2022

Cryptoassets – How Will Family Offices React To The Crypto Winter?

Withers LLP
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In February 2022, BNY Mellon published a report titled ‘Insights into how family offices are responding to rapid economic and social change', which presents the results of a global survey of family offices...

United KingdomTechnology
Isaac Qureshi
Isaac Qureshi
Lauren Rapeport
Lauren Rapeport
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In February 2022, BNY Mellon published a report titled 'Insights into how family offices are responding to rapid economic and social change', which presents the results of a global survey of family offices and amongst other things, explored the appetite of family offices globally to consider cryptoassets seriously in their investment strategies. In the months after the publication of this report, cryptoasset prices plummeted, with Bitcoin at its lowest value since December 2020 and other cryptoassets collapsing entirely. Some estimates suggest that the crash has wiped $2trn from the market, with several prominent crypto funds being forced to restrict customer withdrawals and some entering into liquidation. While the effects of the crash on family offices' behaviour towards investment in crypto and related projects are yet to be directly acknowledged, we consider how family offices may respond to this turbulence in light of BNY Mellon's research.

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