Goldman Sachs to Offer Bitcoin to Wealth Clients in Q2: Report
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31 March
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Goldman Sachs plans to start offering investments in bitcoin (EXANTE: Bitcoin) and other cryptocurrencies in Q2, 2021, CNBC has learned, citing Mary Rich, Global Head of Digital Assets at Goldman. She said the bank is working closely with teams across the companies to find new ways "to offer thoughtful and appropriate access" to the ecosystem for private wealth clients.

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Rich also added Goldman wants to give full exposure to the cryptocurrency market whether "that is through the physical bitcoin, derivatives or traditional investment vehicles." Goldman's step towards the cryptocurrency market comes after Morgan Stanley opened three funds focused on the cryptocurrency to its wealthy clients.

Two of the funds on offer are reportedly from Mike Novogratz's Galaxy Digital and the third one is a joint effort from asset manager FS Investments and a blockchain-related company NYDIG.

As iHodl earlier reported, Goldman filed with the US Securities and Exchange Commission (SEC) for a bitcoin-related exchange traded fund (ETF).

Goldman Sachs Sees Rising Demand for Bitcoin

According to a regulatory filing, the fund might have exposure to bitcoin (EXANTE: Bitcoin) indirectly through an investment in a grantor trust. The ETF’s exposure to cryptocurrency may change over time and, accordingly, such exposure may not always be represented in the ETF’s portfolio.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

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