While crypto is becoming a progressive way to earn money with underlying blockchain technology, several private wealth management firms stay less exposed to cryptocurrencies. This is what JPMorgan Private Bank’s 2026 Global Family Office Report states.
According to the report, nearly 89% of global family offices are very cautious about cryptocurrencies and have no exposure to the industry. The survey covered responses from 333 family offices (wealth management firms) across 30 countries, and surprisingly, the majority do not hold digital assets or cryptocurrencies.
For the uninitiated, global family offices are basically private wealth management firms that handle the money owned by exceptionally wealthy families.
Why are 89% family offices staying away from crypto?
For most of the family offices, crypto is not the only asset they are less exposed to. Gold is no exception, as 72% of the offices do not hedge gold. And 17% are slightly leaning into crypto, meaning they may consider buying digital assets in the future.
However, wealth management firms have kept an eye on AI, as 65% of the respondents plan to focus on AI investments. The reasons for the pullback from crypto are easy to guess, as the market is highly volatile as usual.
Specifically, the crypto market has been showing red signals for the past four months, with the price of Bitcoin dipping to even $75,000 this week. This has triggered the consciousness of the family offices to become extra cautious with crypto.
JPMorgan’s skepticism towards crypto
If you have been reading about institutions entering into the crypto sector, you might have noticed how several firms are willing to explore the industry, whereas some others are reluctant to do so. Talking about Jamie Dimon, the CEO of JPMorgan Chase, he has a skeptical take towards crypto, particularly Bitcoin. In many reports, he connected Bitcoin with terms like “worthless” and “fraud.”
As his view about crypto has slightly changed for the better, his firm has adopted crypto. It launched JPM Coin, a cryptocurrency used for settlements for institutional clients. The firm also has its own native blockchain, Onyx, now known as Kinexys.
Last month, the firm, along with Kinexys, also planned to roll out the JPM Coin deposit token on the Canton network.
But, crypto sees investors flowing in
Last year, Paul Barron Network, a crypto media company, wrote about another contrasting finding where 60% of institutional investors are dedicating 10% of their portfolios to crypto. However, retail investors or everyday participants face hurdles to invest in crypto due to financial constraints.
In another post from July 2025, Paul Barron, the owner of the media company, shared that 89% of Gen Z and millennials would leave banks for crypto and DeFi platforms that provide yields, tokenized stocks, and Web3 features. As such, financial institutions like Bank of America and Wells Fargo were in panic mode as the younger generation signaled a move towards decentralized finance.
JPMorgan’s latest report could be interpreted as indicating that wealth management firms are highly cautious about holding cryptocurrencies, as volatility is a major factor weighing down the sector. However, AI is of high preference for investments.
