Goldman Sachs to offer bitcoin investments in Q2

Team Luno
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Goldman Sachs is inching closer to offering its first investment offerings for bitcoin and other digital assets to clients of its private wealth management group.

 

According to Mary Rich, global head of digital assets for the bank’s private wealth management division, the banking giant is looking to offer a “full spectrum” of investments across crypto, “whether that’s through the physical Bitcoin, derivatives or traditional investment vehicles.”

 

She added that the bank’s clients have been eagerly waiting to get involved, saying some “feel like we’re sitting at the dawn of a new internet in some ways and are looking for ways to participate in this space.”

 

The pandemic has undoubtedly had a hand in spurring global demand for alternative assets, she claimed, noting that: “There's a contingent of clients who are looking to this asset as a hedge against inflation, and the macro backdrop over the past year has certainly played into that.”

 

Goldman Sachs joins a growing list of traditional finance giants who’ve either shown interest or, in the case of Morgan Stanley, are actively offering clients exposure to digital assets.

 

Rich also added: "We're still in the very nascent stages of this ecosystem and no one knows exactly how it will evolve or what shape it will be. But I think it's fairly safe to expect it will be part of our future."

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On our way to the moon, we write about all things crypto. And don’t forget we’re humans too. Our blog conveys the views of Luno and the many unique opinions and characters within our team. We’ll never provide you with financial advice, and we urge you to conduct your own research before purchasing or trading any cryptocurrencies. It’s a brave new world out there, and the market can be volatile at times, so never trade with funds you can’t afford to lose. Want to let us know how much you love our blog? Tweet us @LunoGlobal.

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