The 2026 Global Family Office Report from JPMorgan reveals a stark divide in how the world's wealthiest families allocate capital. Based on data from 333 family offices across 30 countries with an average of $1.6 billion in assets, the study finds artificial intelligence has become the dominant investment theme, while digital assets remain a marginal play.
AI Tops Family Office Investment Lists
65% of family offices identify AI as a priority in their current or future investment strategies, according to the report. Health tech ranks second at 50%, followed by infrastructure at 41%. Digital assets and similar themes drop to just 17%. Yet despite the AI enthusiasm, over half of these offices do not engage in growth or venture capital investments, and 79% have yet to allocate to infrastructure.
Kristin Kallergis Rowland, Global Head of Alternative Investments at J.P. Morgan, noted that alternative investments have evolved from tactical supplements to strategic pillars within portfolios.
Digital Assets at Just 0.4% of Portfolios
Digital assets account for an average of only 0.4% of family office portfolios, with Bitcoin representing 0.2%. A striking 89% of offices hold no digital assets, and 72% lack gold investments. Muhammed Yeşilhark, Investment Director at NOIA Capital, observed a shift: over the past year, some family offices have started investing in digital assets more systematically and regularly, moving from "digital experimenters" to institutional investors, albeit at low levels.
A BNY Mellon study from October 2025 indicated that 74% of ultra-high-net-worth family offices are investing in or exploring digital assets, driven by regulatory developments and improved custody solutions.
Asian Family Offices Move Faster
Regional pockets show stronger appetite. Hong Kong-based VMS Group invested $10 million in Re7 Capital; Maelstrom, linked to BitMEX co-founder Arthur Hayes, launched a $250 million private fund. Family offices in Hong Kong and Singapore are notably increasing digital asset allocations.
Institutional investors are more active. A 2025 Coinbase and Glassnode survey found 70% of institutional investors consider Bitcoin undervalued, with 62% maintaining or increasing positions. In the U.S., 32% of financial advisors now include digital assets in client portfolios, up from 22% last year. Zann Kwan, Investment Director of Singapore-based Revo Digital Family Office, noted that new-generation investors are moving beyond Bitcoin ETFs toward direct token holdings.