Goldman Sachs Clients have renewed interest in Digital Assets and are investing in Bitcoin
Goldman Sachs Bank has announced renewed interest in investing in crypto assets. The company's clients are most active in bitcoin.
Representatives of the investment bank Goldman Sachs said that their clients have renewed interest in the digital finance industry. We are talking about both the existing audience and new market players, writes Bloomberg.
According to the company's analysts, the industry is attracting the attention of large hedge funds amid the launch of spot bitcoin ETFs. This asset class was approved by the U.S. Securities and Exchange Commission (SEC) in January 2024, and since then, crypto funds have demonstrated record capital inflows.
"The recent approval of the ETF has sparked renewed interest and activity from our audience. Many of the largest clients are working in this area or exploring the possibility of participating in the field," said Max Minton, head of digital assets at Goldman Sachs in the Asia—Pacific region.
The company began providing investment services in the crypto sector in 2021. Goldman Sachs offers clients settlement options for bitcoin and Ethereum, as well as cryptocurrency futures listed on the Chicago Mercantile Exchange (CME).
Representatives of the bank noted that traditional hedge funds are showing the greatest interest. At the same time, their attention is mainly focused on bitcoin products. The first cryptocurrency remains the undisputed leader in terms of financial injections.
However, the balance may change if the SEC approves applications for registration of spot Ethereum ETFs. As in the case of bitcoin-based investment products, they can attract the attention of major players, according to Goldman Sachs.
It is worth noting that on the eve of the agency once again postponed the date of consideration of applications for spot Ethereum ETFs. Among the companies that have submitted documents for the launch of this asset class are VanEck, BlackRock, Fidelity Investments and others.
