US bank Goldman Sachs is set to offer bitcoin (BTC) and other cryptocurrency exposure to its high net worth clients. This service is intended for individuals and funds with at least $ 25 million to invest.
Goldman Sachs strengthens its position in Bitcoin
According to a CNBC report, banking giant Goldman Sachs intends to offer investment products linked to Bitcoin (BTC) and other cryptocurrencies to its high net worth clients later this year.
Goldman Sachs appears to be following another major US bank's footsteps, Morgan Stanley, which announced the launch of a similar initiative less than two weeks ago.
When asked by CNBC, Goldman Sachs digital asset manager Mary Rich said:
“There are a number of clients who view this asset as a hedge against inflation, and the macroeconomic backdrop over the past year has certainly helped. There is also a wide range of clients who feel that we are on the cusp of a new internet in some way and are looking for ways to participate in that space. "
Goldman Sachs Intends to Offer "Full Spectrum" of Cryptocurrency-Related Investment Products, Whether Through Bitcoin Derivatives or traditional investment vehicles.
The actual launch of this service has not been communicated, but Mary Rich told CNBC that the firm expects to integrate it into its product line " in the short term ".
“We are only in the infancy of this ecosystem; no one knows exactly how it will evolve or what form it will take, ”added Mary Rich. "But I think it's reasonable enough to think that it will be part of our future."