Goldman Sachs Plans Suite of Bitcoin Products for Q2
Mary Rich, Goldman Sachs’ head of digital assets of private wealth management division, told CNBC this morning that the bank plans to launch a “full-spectrum” of investments in Bitcoin and other digital assets.
Goldman Follows Morgan Stanley into Bitcoin
Goldman Sachs, which commands over $1.8 trillion in assets, plans to offer BTC investment via “physical bitcoin, derivatives or traditional investment vehicles,” according to Rich.
The move from Goldman comes days within Morgan Stanley’s announcement of Bitcoin-related investment products for wealthy customers. Goldman is also targeting “private wealth clients” like high net-worth individuals, family offices, endowments funds in the near term, with at least $25 million to invest.
Rich said that the current macro-environment, along with the prospects of blockchain being the “dawn of a new Internet,” has motivated many of Goldman Sachs’ clients to look for Bitcoin investments.
She added that there is a “contingent of clients who are looking to this asset as a hedge against inflation.”
The bank plans to begin its BTC offerings before June this year.
Recently, Goldman has also launched an indirect Bitcoin investment vehicle via the Ark Innovation ETF.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Source: Read Full Article