Cryptocurrency

Bitcoin ETF

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/goldman-sachs-reengages-with-cryptocurrency-sector-in-2023/" data-wpel-link="internal">Goldman Sachs Reengages with Cryptocurrency Sector in 2023</a> 
Goldman Sachs team has reported that clients are returning to cryptocurrency investments this year, thanks to renewed appetite following the approval of spot <a href="https://coin-turk.com/kripto-krali-bitcoin-icin-carpici-iddia-odakta-cinli-emlak-devi-evergrande-group-var" data-wpel-link="internal">Bitcoin</a> exchange-traded funds (ETFs). According to a report by Bloomberg dated March 24, Max Minton, head of digital assets for Goldman Sachs Asia Pacific, stated that the firm’s biggest clients have recently become active in the crypto sector or are exploring activity. 
<h2 class="p1" style="text-align: justify" id="goldman-sachs-and-the-etf-process">Goldman Sachs and the ETF Process</h2> 
Minton added that a significant part of the increased appetite for the cryptocurrency sector stemmed from the approval of ten new <a href="https://en.coin-turk.com/bitcoin-price-surges-altcoins-follow-the-trend/" data-wpel-link="internal">Bitcoin</a> ETF applications in the United States in January, which made crypto assets a more integral part of traditional markets: 
<blockquote> 
 “The recent ETF approval has triggered a resurgence in our clients’ interest and activities.” 
</blockquote> 
Minton explained that much of the new demand came from Goldman’s existing clients through the firm’s options and futures offerings, with hedge funds being the most prominent among their clientele. Goldman Sachs reported a record $2.8 trillion in assets under management by the end of 2023. 
Despite having established its first crypto trading desk in 2021, Goldman currently does not offer any spot crypto products to its clients. The desk only provides services related to crypto derivatives, including Bitcoin and <a href="https://coin-turk.com/son-dakika-bloomberg-iddiasi-kripto-icin-buyuk-mujde-diyor" data-wpel-link="internal">Ethereum</a> options and futures. Minton shared the following comments on the matter: 
<blockquote> 
 “Last year was quieter, but since the beginning of this year, we’ve seen an increase in client interest in recruitment and volume.” 
</blockquote> 
<h2 class="p1" style="text-align: justify" id="notable-comments-from-a-prominent-figure">Notable Comments from a Prominent Figure</h2> 
Minton said that Goldman’s clients primarily use derivatives to expose themselves to the volatility of crypto and to make weighted predictions about where prices will go in the medium term. He also added that Bitcoin-related products are among the most popular investment tools among active clients. 
Minton also considered the potential approval of a spot <a href="https://en.coin-turk.com/ethereum-price-predictions-will-eth-rise-or-fall/" data-wpel-link="internal">Ethereum</a> ETF in the US as an opportunity for the firm to shift its institutional clients towards Ethereum. However, Bloomberg ETF analysts have set the chances of an Ethereum ETF approval by the Securities and Exchange Commission at only 35% due to prolonged silence from the regulators until May. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-332665" src="https://coin-turk.com/wp-content/uploads/2024/03/eric.webp" alt="" width="500" height="162"> 
Regardless of the ETF approval, Minton added that Goldman will try to open up to a broader universe of clients in the future, including asset management funds, banks, and more specialized crypto asset firms. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/goldman-sachs-reengages-with-cryptocurrency-sector-in-2023/" data-wpel-link="internal">Goldman Sachs Reengages with Cryptocurrency Sector in 2023</a></h5>

Goldman Sachs Reengages with Cryptocurrency Sector in 2023

Table of Contents

COINTURK NEWS

Other articles published on Mar 25, 2024

Best Solana-Airdrop Meme Coin of 2024 – A Review by Filipino Crypto YouTuber ALROCK

'Rich Dad Poor Dad' Author Robert Kiyosaki Says 'Buy As Much Bitcoin As You Can Afford'

EU Committees Approved a Ban on Crypto Anonymous Transaction

Beoble Price Prediction: BBL Pumps 14%, But Experts Say This AR/VR Presale Project Might Be The B...

ChainGPT & Polygon Labs Alliance Indicates MATIC Price Recover

Binance Labs Announced Its Investment In StakeStone

Join our free newsletter for daily crypto updates!