Crypto Finds a Home Among South Korea’s Elite as a Third of the Wealthy Buy In
Once considered a fringe financial asset, cryptocurrency has now found solid footing among South Korea’s wealthy, with a new report revealing that one in three high-net-worth individuals (HNWIs) in the country have allocated part of their portfolio to digital assets like Bitcoin and Ethereum.
The findings, released by Seoul-based fintech consultancy Hana Digital Insights, point to a shifting dynamic in the perception of crypto from speculative gambling to a mainstream investment vehicle for Korea’s elite.
The survey found that 33% of respondents with more than ₩1 billion KRW (£570,000) in investable assets currently hold crypto, and nearly half plan to increase their positions in the next 12 months. Bitcoin remains the most popular asset, followed by Ethereum and a growing interest in stablecoins and staking services.
From Retail Hype to Institutional Strategy
South Korea has long been one of the most active retail crypto markets in the world, with frenzied trading activity on exchanges like Upbit and Bithumb dating back to the 2017 bull run. But this latest data shows a maturing trend: the move from retail speculation to institutional-grade adoption.
“We are seeing a clear shift in how the wealthy perceive crypto, not as a gamble but as a hedge and an innovation play,” said Min-ji Park, lead researcher at Hana Digital Insights. “Many are comparing it to early-stage tech investing.”
The report also found that younger millionaires, particularly those under 40, are far more likely to hold double-digit crypto allocations, often alongside venture capital, AI stocks, and tokenised assets. Older investors, meanwhile, tend to treat crypto as a small hedge or an “alternative to gold”.
Family Offices and Wealth Managers Take Notice
The trend hasn’t gone unnoticed by the private wealth management sector. Korean banks such as Kookmin Bank and Woori Financial Group have begun exploring crypto custody services and blockchain-powered asset management platforms in response to demand from their wealthiest clients.
Private banks are reportedly in early talks to offer crypto-backed structured products, staking-linked annuities, and tokenised real estate exposure all under regulated frameworks in partnership with local fintechs.
“The narrative is changing,” said Joon-ho Lim, a partner at Seoul-based firm QuantumBridge Capital. “Crypto is no longer taboo at the top; it’s becoming part of the diversified playbook.”
A New Era of Adoption in Asia
South Korea’s elite adoption of crypto reflects a broader trend sweeping Asia. From Hong Kong to Singapore, digital assets are increasingly viewed as essential elements of modern wealth portfolios.
As regulation matures and infrastructure improves, experts expect South Korea to emerge as a regional leader in digital finance, blending its tech-savvy population with a deeply embedded investing culture.
For now, the message is clear: crypto isn’t just for degens and day traders anymore; it’s part of the strategy for South Korea’s elite.