Goldman Sachs to offer cryptocurrency investment services this year

The first investment instruments for digital assets will become available to the clients of the private wealth management group

02.04.2022 - 07:30

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What’s new? Goldman Sachs will offer investments in cryptocurrencies to its clients, Mary Catherine Rich, global head of digital assets for the bank’s private wealth management division, announced. The bank is close to offering its first digital asset investment instruments to the clients of the private wealth management group, CNBC reports.

CNBC’s material

What did Rich report? Goldman Sachs will begin offering investments in digital assets in the second quarter of this year. Mary Rich added that the bank is exploring various financial instruments to invest in cryptocurrencies. The demand for digital assets from the bank’s clients was the main reason for working on investment products targeting the cryptocurrency market, Rich said.

What is known about Goldman Sachs? It is one of the largest investment banks in the US. Goldman Sachs is involved in investment banking, securities trading, and investment management, primarily with institutional clients. A crypto trading desk has been established at the bank.

What preceded it? Earlier, Goldman Sachs started over-the-counter trading in cryptocurrencies. The bank struck its first bitcoin-based non-deliverable option deal with Galaxy Digital. In March, the investment bank conducted a survey which found that 60% of respondents plan to buy digital assets in the next two years.

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