A couple of key announcements regarding Bitcoin and digital assets, in general, were revealed by Goldman Sachs this Wednesday morning. The investment bank announced that it targets to offer investments in digital assets in the second quarter of this year.
Goldman Sachs made it known that they brought on Mary Rich as global head for digital assets in the firm. Rich spoke about what Goldman Sachs’ aim at the digital asset market could look like in the coming months.
The investment bank aims at ultimately offering a “full-spectrum” of investments in bitcoin and digital assets, “whether that’s through the physical bitcoin, derivatives or traditional investment vehicles.”
Impact On Bitcoin & Crypto Markets
This announcement would make Goldman Sachs the second of the tier one investment banks after Morgan Stanley to offer crypto-based investment vehicles to clients. The consensus is that this certainly brings the Wall Street crowd closer to the crypto world. Two entities that have historically not seen eye to eye on many issues.
It’s important to point out that the investment vehicles that Goldman intends to offer will be available only to high-end clients. (At least in the first stages of the ordeal.) The wealth management clients that Goldman would be targeting have a minimum of 25 million dollars in their portfolio at the company. This could see the introduction of large whale investors into a variety of crypto assets.
Opening The Door On Crypto Assets
Mary Rich did give a bit more insight into what type of digital assets Goldman could be looking to explore soon. She specifically mentioned Bitcoin as a potential starting point. In her role as global head of digital assets, she isn’t ruling any of those digital assets out just yet.
With regards to what the future might look like with Goldman Sachs and digital assets, Rich mentioned:
“We’re still in the very nascent stages of this ecosystem; no one knows exactly how it will evolve or what shape it will be. (..) But I think it’s fairly safe to expect it will be part of our future.”