India’s affluent investors are increasingly turning to cryptocurrency assets amid stagnation in conventional markets such as stocks, gold, and bonds.
Over the last six months, high-net-worth individuals (HNIs) and family offices in India have begun allocating a portion of their portfolios to digital assets, according to Atul Ahluwalia, Vice-President of HNI & Institutional Investments at CoinSwitch. The shift marks a significant change in investor sentiment, moving from questioning the rationale behind crypto investments to focusing on “how much and where” to invest in digital currencies.
Bitcoin, the leading cryptocurrency, has surged remarkably, setting all-time highs by crossing $120,000, representing over a 90% gain in the past year. This rally has been partly attributed to renewed global interest and notable endorsements, such as from US President Donald Trump, who has expressed strong support for cryptocurrencies. The ongoing search for alternatives to traditionally expensive stocks, record-breaking gold prices, and volatile bond markets has also driven interest in digital assets.
This trend reflects a broader global shift where wealthy investors seek diversification and higher returns from emerging asset classes. The cryptocurrency market’s dynamic and volatile nature demands well-informed decisions and reliable information, especially as prices can fluctuate rapidly within seconds. Consequently, knowledge and strategic portfolio allocation have become key considerations for these investors venturing into the digital asset space.
India stands as one of the world’s fastest-growing major economies, with a projected GDP growth rate of 6.3% to 6.5% for fiscal year 2024–25, according to Deloitte. The National Stock Exchange (NSE) has emerged as a global leader, facilitating 268 initial public offerings (IPOs) in 2024 and raising approximately $19.5 billion, surpassing other major markets.
India’s regulatory landscape for cryptocurrencies remains cautious, yet the momentum among private investors suggests growing acceptance and integration of crypto into mainstream wealth management strategies. As crypto adoption rises, platforms like CoinSwitch and CoinDCX are witnessing increased institutional engagement, reinforcing the digital asset sector’s expanding footprint in India.
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