According to a recent report by JPMorgan, artificial intelligence (AI) has been identified as the predominant investment theme among family offices, overshadowing the interest in cryptocurrencies. The 2026 Global Family Office Report, which surveyed 333 single family offices across 30 countries from May to July 2025, shows that 65% of these offices are prioritizing AI investments, either currently or in the future. In stark contrast, only 17% of the respondents are focusing on crypto and digital assets.
The findings indicate a significant shift in investment strategies, with AI transitioning from a mere narrative to a core component of portfolio infrastructure. The report underscores a cautious approach to cryptocurrencies, highlighting that a substantial 89% of family offices reported having no exposure to this asset class. The average allocation to cryptocurrencies and digital assets stands at a mere 0.4%, while exposure to Bitcoin averages just 0.2%. Furthermore, 72% of family offices do not hold any gold, traditionally seen as a hedge against uncertainty.
This cautious stance suggests that family offices are not currently utilizing cryptocurrencies or gold as hedges, despite prevailing uncertainty in the markets. The report points out that appetite for both traditional and emerging hedges remains limited across various regions globally.
Where capital is likely to flow is into more conventional assets. Approximately 59% of the family offices surveyed are based in the United States, with the remainder distributed across Europe, Latin America, and Asia Pacific. Notably, private equity has emerged as the most favored asset class, with 37% of respondents planning to increase allocations in the next 12 to 18 months. This trend indicates a strategy to pursue AI exposure primarily through private markets while maintaining a tight grip on liquid risks.
Growth equity and venture capital are also gaining traction, although more than half of the family offices still report no current exposure to these asset classes. Risk management appears to play a crucial role in pacing investment decisions, with geopolitics identified as the leading global risk at 20%. Liquidity and trade policy concerns follow closely at 12% each, with asset valuations, economic growth, and portfolio concentration also influencing decision-making.
Interestingly, some family offices in Asia are displaying a greater appetite for cryptocurrencies, targeting approximately 5% exposure to this asset class. Reports suggest increased interest in regions such as Singapore, Hong Kong, and China, where inquiries and demand for cryptocurrency funds are rising. VMS Group is even considering a potential investment of up to $10 million in Re7 Capital strategies.
In summary, while AI takes center stage as the preferred investment theme among family offices, cryptocurrencies continue to hold a marginal position, reflecting a broader trend of cautious optimism among institutional investors.
