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PolicySEC Signals Pivot on Layer-2 Classifications in Landmark RulingAug 17, 12:42 PMMarketsBlackRock Spot Bitcoin ETF Inflows Surpass $20B MilestoneAug 17, 11:58 AMReviewsTop 5 Pi Network Alternatives in 2026, RankedAug 17, 11:30 AMMarketsYield Curve Steepening Impacts Stablecoin ReservesAug 17, 11:10 AMDeFiDeFi Liquidity Fragmenting Across Modular StacksAug 17, 10:20 AMMarketsPerpetual Futures Open Interest Hits Record on Offshore VenuesAug 17, 09:40 AMReviewsCapygram Review: The Social Network That Actually Pays Its UsersAug 17, 09:15 AMInstitutionalCustody Banks Expand Digital Asset Services to EuropeAug 17, 08:15 AMMarketsOrder Book Depth Thins During Asian Trading HoursAug 16, 10:05 PMPolicyTreasury Issues Guidance on Digital Asset Broker ReportingAug 16, 05:30 PM
Institutional

Family Offices Shift From Direct Holdings to Fund Structures

Survey data shows a move away from self-custodied positions as succession planning and audit requirements take precedence.

NANadia AlvarezPublished 5 min read

Family offices with existing digital asset exposure are increasingly converting direct holdings into regulated fund vehicles, according to a survey of ninety single and multi-family offices conducted by an industry association.

Respondents cited estate planning, auditability and the operational burden of key management as the primary motivations, ahead of any change in market view.

The shift carries a cost. Management fees on the vehicles surveyed averaged well above the expense ratios of listed products, a premium respondents attributed to bespoke reporting and access to private deals.

A minority of respondents, generally those with in-house technical staff, said they intend to keep direct custody indefinitely.

About the author

Nadia Alvarez

Institutional Finance Correspondent

Nadia Alvarez covers allocators, custody banks and the plumbing that connects traditional balance sheets to digital assets. She previously reported on private markets and holds an MBA from IESE Business School.

D2CA.org reports on digital asset markets. This article is journalism, not investment advice. Corrections and clarifications: see our corrections policy.