Goldman Sachs will start offering investment vehicles for bitcoin and other digital assets in the second quarter, according to CNBC.
- Global Head of Digital Assets Mary Rich said the bank aims to offer a full spectrum of investments which includes physical bitcoin, derivatives, or traditional investment vehicles.
- The service will be made available in the near term to private wealth clients or individuals, families, and endowments with at least $25 million to invest.
- Rich said the offering is due to client demand, as they look to the asset as a hedge against inflation, played up by the macro backdrop over the past year amid the COVID-19 pandemic.
- The bank may offer bitcoin investment funds similar to those of Morgan Stanley, as well as other ways akin to the underlying asset class that trades 24/7 globally.
- “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,” said Rich.