Key Takeaways
- • Seek Capital, the family office of UK billionaire Simon Nixon, plans to increase its allocation to cryptocurrency assets, according to a Bloomberg report.
- • Seek Capital is reported to manage about $1.2 billion, per Bloomberg coverage cited in publisher context.
- • Managing director Adam Proctor said the firm will hire a dedicated cryptocurrency analyst as digital assets take a growing share of financial markets.
- • Proctor described the move as enhancing the "allocation to crypto as we feel it is an important area for the future," without specifying the size of the increase.
- • Surveys cited by the report show institutional appetite for crypto rising, including a Goldman Sachs study where nearly half of participating institutions reported increased interest and a Fidelity study finding roughly 70% plan to raise or make a first crypto allocation within months.
Summary
Seek Capital, the family office of British billionaire Simon Nixon, co-founder of UK price comparison website Moneysupermarket.com, plans to increase its exposure to cryptocurrency assets, according to a report by Bloomberg. Managing director Adam Proctor said digital assets continue to grow and take substantial portions of financial markets, and that the family office will increase its allocation to the asset class and hire a designated cryptocurrency analyst.
Proctor said the firm is seeking to enhance its "allocation to crypto as we feel it is an important area for the future." He did not specify the precise scale of the planned increase. Seek Capital is described as a London-based single family office, with Bloomberg reporting it manages about $1.2 billion.
The move reflects a broader trend of rising institutional interest in digital assets. A Goldman Sachs survey found that nearly half of the institutional investors it polled had increased interest in investing in the industry. Separate Fidelity research indicated that roughly 70% of institutional investors plan either to increase their current crypto allocation or make their first purchase within the coming months. Family offices were highlighted as a particularly fast-growing source of demand.
The report was originally published by CryptoPotato on August 26, 2021.
Proctor said the firm is seeking to enhance its "allocation to crypto as we feel it is an important area for the future." He did not specify the precise scale of the planned increase. Seek Capital is described as a London-based single family office, with Bloomberg reporting it manages about $1.2 billion.
The move reflects a broader trend of rising institutional interest in digital assets. A Goldman Sachs survey found that nearly half of the institutional investors it polled had increased interest in investing in the industry. Separate Fidelity research indicated that roughly 70% of institutional investors plan either to increase their current crypto allocation or make their first purchase within the coming months. Family offices were highlighted as a particularly fast-growing source of demand.
The report was originally published by CryptoPotato on August 26, 2021.
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