Goldman Sachs, the leading investment banking giant, is set to offer its wealth management client investment vehicles in Bitcoin and other cryptocurrencies by Q2 2020, CNBC reported.
BREAKING: Goldman Sachs plans to offer Bitcoin services to its wealthy clients in the second quarter.
After all, they all have to offer bitcoin services.
– Pomp ???? (@APompliano) March 31, 2021
Mary Rich, Head of Digital Assets at Goldman Sachs, said:
“We are still in the early stages of this ecosystem. Nobody knows exactly how it will develop or what shape it will take. But I think it’s pretty safe to expect that it will be part of our future. “
Rich also said the company plans to offer a full range of investments in bitcoin and other cryptocurrencies, “whether that’s through physical bitcoin, derivatives or traditional investment vehicles,” she said.
Plans to offer bitcoin and crypto investment tools to wealthy clients come just a month after the company reopened its bitcoin options desk.
Goldman Sachs and Morgan Stanley Rush to Offer Bitcoin; Would others follow?
The recent rush by the top US investment banks to offer Bitcoin to their customers indicates the growing demand for the top cryptocurrency. While Goldman Sachs will offer its wealthy clients various investment vehicles for Bitcoin and crypto-explosives, Morgan Stanley is working on enabling its clients to directly own Bitcoin over the same period.
The fact that Goldman Sachs did not view Bitcoin as an asset class until last year and offered every form of investment vehicle to get its customers engaged is a shining example of Bitcoin’s increasing adoption.
Aside from growing demand from Wall Street investors, retail demand appears to be even as top retail payment providers, including VISA and PayPal, recently announced that they would allow crypto issues and payments through their platform.
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About the author
Prashant is an engineer and focuses on the UK and Indian markets. As a crypto journalist, his interest lies in the introduction of blockchain technologies in emerging economies.