Goldman Sachs plans to launch 3 tokenization projects before the end of the year

In recent years, more and more financial institutions have begun to get involved in the field of cryptocurrency, and it can be seen that large institutions are increasingly interested in crypto assets. According to "Fortune" magazine's interview with Goldman Sachs' global head of digital assets Matthew. According to an interview with Matthew McConaughey, multinational investment bank Goldman Sachs will expand its cryptocurrency products and is expected to launch three new tokenization products in the United States and Europe before the end of this year.

Tokenization refers to the process of converting physical world assets (such as real estate, art, or financial commodities) into blockchain digital tokens.

Although McDermott did not disclose specific details, he said that Goldman Sachs plans to establish a market for the tokenization of real assets (RWA), with a focus on the US and European debt markets. According to reports, one of Goldman Sachs’ projects focuses on the U.S. fund market and the other on the European debt market. The new products will mainly be targeted at financial institutions rather than retail investors.

McDermott said the products were launched because of a significant increase in customer interest in cryptocurrencies. RWA will also differentiate itself from other products through advantages such as execution speed and expanding the types of assets that can be used as collateral.

The “new impetus” for cryptocurrencies among institutions and investors mainly comes from the continued increase in cryptocurrency ETFs. Since U.S. regulators approved Bitcoin ETFs in January this year, nearly 10 Bitcoin (BTC) spot ETF products have been launched. In addition, the Ethereum (ETH) spot ETF is also expected to start trading as early as this month, and some institutions have even applied for the Solana spot ETF.

In addition to cryptocurrency ETFs, RWA-focused funds are becoming increasingly popular in the United States. For example, BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) has $500 million in assets under management; while Franklin Templeton’s OnChain U.S. Government Currency Fund (FOBXX) is not far behind , with assets under management of approximately US$400 million.

According to Fortune, if the upcoming U.S. presidential election continues to soften U.S. regulatory attitudes, Goldman Sachs’ opportunities in the cryptocurrency field are likely to expand further in the coming months.

CoinGecko survey shows: 49% of people are optimistic about cryptocurrencies

Cryptocurrency data tracking website CoinGecko surveyed more than 2,500 people over the past two weeks. According to the report, about half of crypto investors currently have a "bullish" attitude toward the crypto market. The survey, conducted between June 25 and July 8, involved a total of 2,558 respondents, 94% of whom said they hold or work in cryptocurrency.

The survey results showed that 49.3% of the respondents were "bullish" on the encryption market. About a quarter of the respondents were "bearish" on the market, while about a quarter said they had a "neutral" attitude towards the market and did not think the market would rise or fall.

Among them, when the respondents are broken down into investors, traders, builders and observers, observers who are "not directly involved in cryptocurrency" are the most pessimistic about cryptocurrency, with about 40% of observers having a negative view on the cryptocurrency market. Be pessimistic.

Meanwhile, long-term cryptocurrency investors are the most bullish, followed by those working in the cryptocurrency space.

The survey comes as Bitcoin has fallen about 9.5% since the mining reward was halved on April 20. As of press time, Bitcoin was trading at around $57,436, slightly above last week’s four-month low below $54,000.

Past Bitcoin halving events have typically seen an increase in the price of Bitcoin in the months that follow. However, the market has recently been affected by the announcement of the collapsed crypto exchange Mt. Gox to repay a total of US$7.6 billion in Bitcoin to creditors, coupled with the German government's large-scale Bitcoin selling, the market was affected by potential selling pressure, causing the currency price to fall.

References: cointelegraph, cointelegraph

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