Nearly 90% of Global Family Offices Still Avoid Crypto, JPMorgan Report Finds

The world’s wealthiest families continue to keep cryptocurrencies at arm’s length, even as geopolitical uncertainty rises and digital assets remain a focal point of global market debate, according to a new report from JPMorgan Private Bank.

The bank’s 2026 Global Family Office Report shows that 89% of family offices globally do not hold cryptocurrency in their portfolios, highlighting a persistent reluctance among ultra-wealthy investors to treat digital assets as either a hedge or a core allocation. 

The findings come as crypto markets have once again faced sharp volatility, reinforcing long-standing concerns around risk and portfolio stability.

Family Offices Remain On The Sidelines

Despite years of growing institutional discussion around Bitcoin and other digital assets, family offices have largely chosen not to participate. 

JPMorgan’s report found that nearly nine in ten family offices have no exposure to crypto at all, suggesting that adoption among this group remains minimal.

The report noted that this caution extends beyond cryptocurrencies. Gold, traditionally viewed as a safe-haven asset, is also absent from many portfolios, with 72% of family offices reporting no gold exposure.

Together, the figures point to a broader skepticism toward alternative hedges, even in an environment shaped by geopolitical tensions, inflation concerns, and shifting global alliances.

Volatility And Correlation Drive Caution

JPMorgan said the reluctance reflects an ongoing debate about crypto’s role in diversified portfolios. While digital assets are often marketed as uncorrelated or inflation-resistant, the report questioned whether those characteristics hold up in practice.

“Despite the headlines and hype around crypto and other digital assets, the vast majority of family offices remain on the sidelines,” the report said. 

It added that cryptocurrencies’ elevated volatility and inconsistent correlation with other asset classes make it difficult for long-term investors to size positions confidently or use them as reliable portfolio stabilizers.

Recent market turbulence appears to have reinforced those concerns. 

Sharp weekend sell-offs and sudden price swings have become a recurring feature of crypto markets, strengthening the case for caution among investors focused on capital preservation rather than short-term gains.

Limited Interest Looking Ahead

While most family offices remain uninterested in crypto today, the report suggests that attitudes could gradually evolve. About 17% of surveyed families said cryptocurrencies and digital assets were a theme they may prioritize in the future.

However, that figure was dwarfed by interest in artificial intelligence. According to the report, 65% of family offices plan to invest in AI-related opportunities going forward, signaling a clear preference for technologies viewed as having more predictable revenue potential and clearer real-world applications.

Portfolio Construction Remains Traditional

The report also sheds light on how family offices are currently allocating capital. 

On average, about 75% of assets are invested in a mix of public equities and alternative investments. U.S. large-cap stocks dominate public equity allocations, reflecting a continued preference for scale, liquidity, and established market leadership.

On the private side, drawdown funds lead allocations, allowing family offices to deploy capital gradually while maintaining flexibility. This approach aligns with a broader emphasis on risk management and long-term planning, rather than opportunistic exposure to volatile asset classes.

A Global Perspective On Wealth Strategy

JPMorgan Private Bank interviewed 333 family offices across 30 countries for the report, with participants reporting an average net worth of $1.6 billion. The global scope of the survey suggests that skepticism toward crypto is not region-specific, but widely shared among ultra-wealthy investors.

“This report is more than a survey, it’s the result of our collaboration with some of the world’s most sophisticated family offices,” said Natacha Minnit, Global Co-Head of the Family Office Practice at JPMorgan Private Bank.

For now, the findings indicate that cryptocurrencies remain largely outside the mainstream of family office portfolios. As volatility persists and competing investment themes such as AI attract growing attention, digital assets appear likely to remain a niche consideration rather than a core allocation for the world’s wealthiest families.