Wealthy clients of UBS in Asia are shifting their focus from dollar-denominated assets to gold, cryptocurrencies, and Chinese markets. Representatives of Switzerland’s largest bank made this statement, according to Cointelegraph.
Amy Lo, co-head of UBS’s asset management division in Asia, cited growing geopolitical uncertainty and persistent volatility as the main reasons for this shift.
According to her, clients are now seeking a broader range of alternative instruments, including cryptocurrencies, commodities, and other currencies. Amid market turbulence, they are reallocating funds towards safe-haven assets and growth opportunities in new regions.
According to the latest survey by Bank of America, major fund managers have undertaken the largest reduction in US dollar-denominated investments in 19 years.
Galaxy Digital noted that Bitcoin is increasingly being viewed as a digital version of gold, with growing interest from institutions, exchange-traded funds, and even governments.
Researchers at NYDIG stated that the leading cryptocurrency has strengthened as a safe-haven asset following the “Liberation Day” of US President Donald Trump. QCP Capital reached similar conclusions.