Key Takeaways
- • JPMorgan Private Bank's 2026 Global Family Office Report, surveying 333 single-family offices across 30 countries between May and July 2025, finds 65% (216 offices) prioritize AI-related investments now or in the future.
- • Only 17% (56 offices) identify crypto and digital assets as a key investment theme, and 89% currently have no crypto exposure.
- • Average global allocation to crypto and digital assets is 0.4%, with Bitcoin averaging 0.2%; 72% of respondents have zero gold exposure.
- • Private equity is the most favored asset class, with 37% of respondents planning to increase allocations over the next 12 to 18 months.
- • Geopolitics is the top risk cited by family offices (20%), followed by liquidity and trade policy at 12% each.
Summary
Artificial intelligence has become the dominant investment theme among the world's largest family offices, while cryptocurrencies continue to draw limited interest, according to a new report from JPMorgan Private Bank. The bank's 2026 Global Family Office Report polled 333 single-family offices across 30 countries between May and July 2025. Of those, 65% (216 offices) are prioritizing AI-related investments either now or in the future, compared with 17% (56 offices) that view crypto and digital assets as a key investment theme.
Crypto remains largely absent from family office portfolios. The report states that 89% of family offices currently have no cryptocurrency exposure, and the average global allocation to crypto and digital assets is just 0.4%. Bitcoin exposure is smaller still, averaging 0.2%. The report also found that gold, a traditional hedge, attracts little attention, with 72% of respondents reporting zero exposure. In the report's words, "Despite geopolitical fears, family offices avoid gold and crypto," and "appetite for traditional and emerging hedges remains limited."
Private equity is 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 primary routes to early-stage AI innovation, are also gaining traction, although more than half of family offices still report no current exposure to those segments. Geopolitics is the leading risk for family offices globally, cited by 20% as their main concern, followed by liquidity and trade policy at 12% each. Asset valuations, economic growth and portfolio concentration trail closely behind.
Regionally, about 59% of respondents (197 offices) are based in the United States, with the remainder spanning Europe, Latin America and the Asia-Pacific region. Contrasting with the broader findings, a Reuters report from the prior year cited wealthy families and family offices across Asia increasing crypto exposure, with some targeting allocations of about 5% of portfolios, driven by client inquiries, trading volumes and demand for crypto-focused funds in Singapore, Hong Kong and mainland China. Separately, VMS Group, a Hong Kong-based multi-family office with $4 billion under management, announced in June that it plans to enter crypto for the first time, considering an investment of up to $10 million in Re7 Capital strategies.
Crypto remains largely absent from family office portfolios. The report states that 89% of family offices currently have no cryptocurrency exposure, and the average global allocation to crypto and digital assets is just 0.4%. Bitcoin exposure is smaller still, averaging 0.2%. The report also found that gold, a traditional hedge, attracts little attention, with 72% of respondents reporting zero exposure. In the report's words, "Despite geopolitical fears, family offices avoid gold and crypto," and "appetite for traditional and emerging hedges remains limited."
Private equity is 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 primary routes to early-stage AI innovation, are also gaining traction, although more than half of family offices still report no current exposure to those segments. Geopolitics is the leading risk for family offices globally, cited by 20% as their main concern, followed by liquidity and trade policy at 12% each. Asset valuations, economic growth and portfolio concentration trail closely behind.
Regionally, about 59% of respondents (197 offices) are based in the United States, with the remainder spanning Europe, Latin America and the Asia-Pacific region. Contrasting with the broader findings, a Reuters report from the prior year cited wealthy families and family offices across Asia increasing crypto exposure, with some targeting allocations of about 5% of portfolios, driven by client inquiries, trading volumes and demand for crypto-focused funds in Singapore, Hong Kong and mainland China. Separately, VMS Group, a Hong Kong-based multi-family office with $4 billion under management, announced in June that it plans to enter crypto for the first time, considering an investment of up to $10 million in Re7 Capital strategies.
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