UK Billionaire Simon Nixon’s Family Office to Enter the Cryptocurrency Space: Report
26 Aug, 2021•2 min read•Other
Digital assets continue to grow and take substantial portions of the financial markets, said Seek Capital’s managing director – Adam Proctor. As such, the family office will increase its allocation to it and hire a designated cryptocurrency analyst.By definition, a family office is a privately held company handling investment and wealth management for high-net-worth and ultra-high-net-worth individuals.Similar to other institutions, their appetite for the cryptocurrency industry has only grown in the past year. This received further confirmation earlier from Seek Capital.As reported by Bloomberg, the family office operated by the UK billionaire Simon Nixon wants to dip its toes in the digital asset space.Adam Proctor, a managing director for the organization, said that they are trying to enhance the “allocation to crypto as we feel it is an important area for the future.”Although failing to describe the precise meaning of increasing the exposure to digital assets, Proctor said the firm looks to appoint a dedicated analyst.The rapidly growing demand from institutions, and family offices, in particular, was recently exemplified by a survey conducted by Goldman Sachs.It concluded that nearly half of the institutional investors that participated in the study had increased interest in investing funds in the industry.Another research compiled by Fidelity outlined even more optimistic results. It showed that roughly 70% of institutional investors plan to either increase their current crypto allocation or make their first purchase in the next months.
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