Survey: About one-third of private wealth management institutions in Hong Kong expect to allocate up to 10% of virtual assets within the next five years

The Private Wealth Management Association (PWMA) of Hong Kong released a survey on Friday showing that most private wealth management companies are taking a wait-and-see approach to virtual assets. However, with the recent surge in cryptocurrency transactions in Hong Kong and the gradual improvement of regulatory systems, about one-third of wealth management institutions expect their allocation ratio for virtual assets to be 6-10% within five years.