Goldman Sachs clients show interest in cryptocurrencies again
Institutional clients of Goldman Sachs' Asia-Pacific division are showing renewed interest in bitcoin, Ether and others #criptoactivos .
Goldman Sachs clients have apparently shown interest in cryptocurrencies again; its appetite has been renewed following the approval of spot bitcoin exchange-traded funds $BTC .
Max Minton, head of digital assets at Goldman Asia-Pacific, said many of his firm's biggest clients had recently started participating in the #Criptomonedas sector or were "looking into doing so," according to a Bloomberg report from March 24th.
Minton added that much of the increased appetite for cryptocurrencies is due to the approval of ten new bitcoin ETFs in the United States in January, which saw crypto assets becoming a more integral part of traditional markets.
“The recent approval of #ETFbitcoin has caused a resurgence of interest and activities from our clients.”
Minton explained that most of the new demand is coming primarily from Goldman's existing clients through his firm's options and futures offerings, with hedge funds being the most involved among his clients.
Goldman Sachs declared a record $2.8 trillion in assets under management at the end of 2023.
Notably, Goldman does not currently offer any spot cryptocurrency products to its clients, despite having launched its first crypto trading desk in 2021. The desk only provides exposure to crypto derivatives, including bitcoin and Ether options and futures $ETH
"It was a quieter year last year, but we've seen an uptick in customer interest in onboarding, pipeline and volume since the start of the year," Minton said.
