JPMorgan's newly released 2026 Global Family Office Report shows a sharp divergence among ultra-high-net-worth families: artificial intelligence (AI) is the top thematic focus, while cryptocurrencies and gold remain on the sidelines. The survey, based on responses from 333 single-family offices across 30 countries, reveals how these long-term capital allocators are rebalancing their strategies.
AI Tops Investment Priorities, 65% of Family Offices Already Engaged
Approximately 65% of surveyed family offices say AI-related investments are a current or future priority, placing this theme ahead of healthcare, infrastructure, and cybersecurity. Analysts note that while confidence in AI's sustainable growth potential is high, actual capital allocation remains concentrated in public markets rather than deep private tech bets or early-stage startups. The report highlights a gap between stated priorities and execution: many family offices still lack meaningful exposure to growth equity, venture capital, and infrastructure — areas seen as key to unlocking AI's disruptive potential.
Crypto Stays on the Sidelines: 89% Hold Zero Digital Assets
In stark contrast to AI enthusiasm, cryptocurrencies are almost absent from family office portfolios. According to the survey, 89% of respondents report zero exposure to digital assets, signaling persistent caution toward crypto's volatility and risk profile. Only a small minority — roughly 17% — consider crypto and digital assets as priority themes, far below the level of enthusiasm for AI. The broader crypto market has lost over $1 trillion in value and currently stands at about $2.59 trillion, with liquidity contracting significantly.
Traditional hedges like gold are also under-utilized: approximately 72% of family offices hold no gold exposure, underscoring a broad skepticism toward both classic and emerging hedge assets.
Wealth Management Shifts Toward Growth Themes, Away from Speculative Assets
The findings reflect an evolution in family office strategies amid geopolitical uncertainty and inflationary concerns. Many wealthy families are leaning into growth-oriented technology themes like AI while avoiding speculative assets. Private equity and alternatives still play a significant role in portfolios, particularly among offices most worried about inflation. Yet the contrast between interest in AI and actual investment depth indicates strategic priorities are still evolving, not fully translated into capital commitments.