Goldman Sachs says that wealthy customers see Bitcoin (BTC) as inflation protection
Goldman Sachs says that wealthy customers see Bitcoin (BTC) as inflation protection
- Goldman Sachs said that his team was working on finding suitable paths to provide crypto engagement for private assets.
- The bank also works to maintain the official approval of the US SEC and NYDFs.
The Wall Street banking giant Goldman Sachs is working on offering institutional customers Bitcoin and crypto system vehicles. Mary Rich, Global Head of Digital Assets The Private Wealth Management Division of Goldman, said that the bank will start to offer crypto investment opportunities from the second quarter of this year. In an interview last week, Rich :
We work closely with teams throughout the company to find ways to offer well-considered and appropriate access to the ecosystem for private-wealth customers, and that's something that we will probably offer in the near future. But Goldman is not ready to take this half -heartedly. Rich said that the bank would offer a “full spectrum” of investments in Bitcoin and other digital assets. She added that this could happen through physical bitcoins, derivatives or traditional investment instruments. Here, too, Goldman Sachs is not the only investment bank that offers access to this aspiring asset class. Another bankruptcy giant, Morgan Stanley, has also joined the race. However, these offers fascinated crypto believers and billionaires alike. related : The partnership with Galaxy Digital makes the first OTC crypto transaction from Goldman Sachs Rich said that the strong customer issue forced the bank giants to deal with these crypto offers. Goldman's private asset management business is essentially aimed at individuals, foundations and families with an investment of at least $ 25 million. Reich added: There is a contingent of customers who consider this asset as security against inflation, and the macroeconomic background of the past year has certainly contributed to this. There are also a large number of customers who feel like sitting at the beginning of a new Internet and looking for ways to participate in this room Rich said Goldman Sachs was ready to offer Bitcoin investment funds together with other investment options that "resemble the underlying asset class, which is traded around the clock worldwide". Some crypto funds have an upper limit. For example, the Galaxy Bitcoin fund only allows you to buy/sell once a quarter. However, users can liquidate the institutional Galaxy funds every week. Goldman Sachs is currently trying to regulate the US Securities and Exchange Commission (SEC) and the New York Department of Financial Services (NYDFS). Reich said: We are still in the very young stages of this ecosystem; Nobody knows exactly how it will develop or what form it will have. But I think it is almost certain that it will be part of our future. The Goldman's offer can create a spiral effect among traditional actors that would merging to offer similar offers in the future. Get the official approval before offering Bitcoin
Source: Crypto-news-flash.com
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