Goldman Sachs is now offering ₿itcoin to their 'High Net Worth Clients'! 🏦💰🤑

2 years ago
274

* Filings with the SEC show Goldman Sachs will provide access to Ethereum for its largest investors with a minimum deposit of $250,000.
* Last June, Goldman offered a ₿itcoin futures vehicle to top clients.
* Nothing in the documents suggest any such offerings are in the works for everyday investors looking to access crypto (this is similar to the JP Morgan memo instructing their richest clients to buy up ₿itcoin).

According to public filings this week with the SEC, Goldman Sachs plans to offer its largest banking clients access to Ethereum's digital coin Ether (ETH) through a third-party issuance from Galaxy Digital.

This is not the first foray into cryptocurrency investment offerings for Goldman. Last June, the investment banking firm also partnered with Galaxy Digital to launch and manage Goldman's ₿itcoin futures offering.

The fall of crypto exchange FTX is just the latest in several high-profile bankruptcies, but Goldman’s willingness to invest in the sector shows that it sees potential in the sector. According to David Solomon, CEO of Goldman Sachs, while cryptocurrencies are "highly speculative," he is bullish on the underlying technology as its infrastructure develops more.

Big banks are taking advantage of the opportunity, said Goldman's head of digital assets, Mathew McDermott. "We do see some really interesting opportunities, priced much more sensibly," McDermott said in an interview.

Thus far, the banking giant has invested in 11 digital asset companies. McDermott’s team has grown to include a seven-person crypto options and derivatives trading desk. Together with MSCI and Coin Metrics, Goldman Sachs launched datonomy, a data service designed to classify digital assets by use. McDermott said the firm is also developing its own private distributed ledger technology.

READ MORE: https://www.fool.com/the-ascent/cryptocurrency/articles/goldman-sachs-now-offers-high-net-worth-investors-access-to-bitcoin-and-ethereum/
and
https://www.investopedia.com/goldman-sachs-spends-on-crypto-6836155

Original Video by Anthony Pompliano: https://www.youtube.com/watch?v=U4efe4mEToI

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