As per the latest reports, Goldman Sachs has announced that it is planning to offer the option of investment in Bitcoin (BTC) to its clients. Once launched, the Bitcoin (BTC) option would be the first kind of cryptocurrency investment that will be offered by Goldman Sachs to its clients.
Goldman Sachs, which is a major investment banking giant in the United States has also hinted that it may introduce other digital assets to the clients as well.
The firm has revealed that the option of investments in Bitcoin (BTC) and other digital assets will be offered to the private wealth management group’s clients. It has been revealed by Goldman Sachs that it is planning to launch the digital assets’ investment option for its clients by the end of the 2nd quarter of 2021.
During an interview at CNBC, Mary Rich explained exactly what Goldman Sachs aims to provide its clients. Rich stated that this is just the beginning for Goldman Sachs in providing its clients with the initial round of digital assets. With the passage of time, Goldman Sachs aims to provide its clients with the full spectrum of cryptocurrencies that they can invest in.
Rich stated that they will continue providing their clients with more options whether they are traditional investment vehicles, derivatives, or physical bitcoin.
Mary Rich has been appointed by Goldman Sachs as the private wealth management division’s global head of digital assets.
Rich also stated how some of the clients are perceiving this new Bitcoin investment opportunity to be. As per her, these clients are perceiving the Bitcoin (BTC) investment to be a hedge fund that would keep their assets intact and protected from macro backdrop as well as inflation.
On the other hand, there are clients who are perceiving the new offering as a new opportunity that is being offered by the new internet. These clients were already looking to venture through the digital asset industry in order to invest in it and gain from it as much as possible.
It was right at the beginning of March 2021 when Goldman Sachs had opened up about the demand for Bitcoin (BTC). At that time, Goldman Sachs had stated that it has been monitoring Bitcoin (BTC) and its price trend for a long time.
It can clearly see that the demand for Bitcoin (BTC) has been constantly on the rise in the mainstream sector. However, the adoption is not just limited to the mainstream institutional sector but it has also started attracting people from the private wealth management space.
As the price of Bitcoin (BTC) continues to progress, more and more investors from the private wealth management industry grow curious about digital assets.
Therefore, Goldman Sachs has answered the call of its clients by introducing investment vehicles for Bitcoin (BTC).