Asia’s wealthy aren’t selling crypto, but they’re buying this instead

The digital assets sector isn’t receiving much interest from wealthy asset holders across Asia. While high-net-worth clients in Malaysia and Singapore are still holding onto crypto assets in their portfolios, they are directing new funds towards gold, bank deposits, or alternative financial investments.

Cryptocurrency investment funds have suffered their highest outflows of 2026 at the same time when gold registered its best quarter ever, which could point to investors behaving much more defensively than before. Instead of selling digital assets completely, they seem to be opting for postponing purchasing cryptocurrencies in favor of more traditional safe havens.

Where the fresh money is going instead

According to the new survey from HSBC, there are no signs of investors fleeing from cryptocurrencies. Rich investors seem to be sticking to their current investments, while investing their new money in gold, cash savings, and a variety of other assets.

As HSBC specified:

“Investors are putting the core of their portfolios first, balancing protection and growth, and diversifying with intent. Allocations continue to shift across cash, equities and gold. But cash holdings are playing a clear role in giving investors a buffer to rebalance, deploy or hold steady as conditions change.” — HSBC Global Affluent Investor Snapshot 2026

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