One of the world’s largest private wealth management conglomerates and Wall Street giant Goldman Sachs appears to be all-in on Bitcoin and Ethereum, with plans to provide its private wealth investors with access to a “full spectrum” of Bitcoin and other Digital Assets as investments.
Mary Rich, the bank’s newly appointed Global Head of Digital Assets, confirmed this in an interview.
Mary Rich opened up on the investment bank’s plans saying, “We are working closely with teams across the firm to explore ways to offer thoughtful and appropriate access to the ecosystem for private wealth clients, and that is something we expect to offer in the near term.”
She also said that there is a contingent of clients who see this asset as a hedge against inflation, and there are also a substantial number of clients who believe we are at the dawn of a new Internet.
In a related vein, according to a new Goldman Sachs survey, 60% of the 172 surveyed clients expect to increase their digital asset holdings in the next one to two years.
Rich went on to say that the bank is looking into the possibilities of providing a full cryptocurrency investment offering through various types of investments, “whether that’s through physical bitcoin, derivatives, or traditional investment vehicles.”
She also provided more insight into what to expect, stating that Goldman Sachs may offer bitcoin investment funds similar to those offered by Morgan Stanley.
Investment banking company Morgan Stanley is no stranger to cryptocurrency. It recently announced a first-of-its-kind banking breakthrough. The bank completed its first over-the-counter (OTC) cryptocurrency transaction with the cryptocurrency merchant bank Galaxy Digital becoming the first major U.S. bank to do so.
