Goldman Sachs Says 'Many of Our Largest Clients' Getting Active in Crypto

[sirty143]

Goldman Sachs Says 'Many of Our Largest Clients' Getting Active in Crypto

Many of Goldman Sachs’ largest clients are ramping up their activity in the crypto space following spot bitcoin exchange-traded fund (ETF) approvals and BTC price recovery. “The recent ETF approval has triggered a resurgence of interest and activities from our clients,” said Goldman Sachs’ Asia Pacific head of digital assets. See more for yourself here.

Your opinion is greatly appreciated.

[Baofeng]

I think it's all about the timing here, I mean with the approval of Bitcoin ETF just in time for the halving years, we shouldn't be surprised if G&S clients are actively investing and diversifying their portfolio thru crypto.

And maybe those who are is very happy to see that the price is going up in very short amount of time and even reaching new all time high (might be new for this clients of them) as a indication that crypto is really a good investment, store of value and even making great profits in the next couple of years.

[electronicash]

institutions are coming that's what they said. those high networth clients of them would now be going for crypto as its easier to buy and hold than buying gold and keeping it safe. and just like Blackrock they are also interested in tokenizing traditional assets using blockchain technology.

they are seeing there are more high networth traders trading in crypto than the number of clients and in order for these trader to get onboard into institutional traders, they need to tokenize assets.

[TomPluz]

One of the biggest reasons why we now have big financial institutions getting active in the cryptocurrency industry after many years of refusal to look at it with some good level of seriousness is because their own big clients are interested with cryptocurrency and can be demanding to invest with it...and so with the approval of ETFs this demand from known clients fully come into reality. I am sure many of these big clients don't want a direct involvement with Bitcoin or any other digital assets so they choose to work with well-known financial firms like Goldman Sachs and we can also say the same thing with JP Morgan under Jamie Dimon. I would say that this is as definite sign that Wall Street has come to cryptocurrency and with good level of profits that can be made they might stay here for a long time though am not sure how they would be reacting if the past bearish markets would once again reign in the industry...this is surely good to watch.

[Don Pedro Dinero]

The moral I take from this is that the adoption of bitcoin and cryptocurrencies is unstoppable. The bad thing is that it is a far cry from what its creator and many of us thought some time ago, an adoption that would serve to get rid of the monetary system of central banks. With this, with the bitcoin spot ETFs, with KYC everywhere, the CEX etc., bitcoin is increasingly an element of the current economic system and not something that differs from it.