MARKET NEWS

Summary

• Funds receive more enquiries, platform trade volumes surge
• Some family offices eye crypto exposure around 5% of portfolios
• Hong Kong stablecoin legislation, U.S. GENIUS Act fuel demand
• Bitcoin climbs to new high above $124,000 in August

HONG KONG/SINGAPORE, Aug 21 (Reuters) - Wealthy Asian families and family offices are ramping up their cryptocurrency investments, driven by the bullishness around digital assets, increased mainstream adoption and favourable regulatory developments in key markets.
Wealth managers said they are receiving more enquiries, cryptocurrency exchanges have seen trading volumes surge and crypto funds are in huge demand as high-net-worth Asian investors seek more exposure.

"We raised over $100 million in just a few months, and the response from LPs has been encouraging," said Jason Huang, founder of NextGen Digital Venture, referring to Limited Partners that represent high net-worth individuals.

Huang launched a new long-short crypto equity fund, the Next Generation Fund II, in Singapore in late May, after winding down his first fund last year, which returned 375% in less than two years.
"Our investors - mainly family offices and internet/fintech entrepreneurs, recognise the growing role of digital assets in diversified portfolios,” he said.
Swiss investment bank UBS said some overseas Chinese family offices plan to raise their crypto exposure to around 5% of their portfolios.
"Many second- and third-generation individuals of family offices are starting to learn about and participate in