Goldman Sachs To Launch Its Bitcoin Offering For Wealth Managers
Oh how time has changed things. Yet another bit of evidence that Bitcoin is going to be a major part of our everyday lives, Goldman Sachs enters the fray.
Giant American investment bank Goldman Sachs plans to offer cryptocurrency investment infrastructure to its wealth management clients in the second quarter of 2021.
Mary Rich, the investment bank’s incoming global head of digital assets for the private wealth management division, told CNBC in an exclusive interview that they will launch the service in Q2 2021.
″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,” Rich said.
Full Spectrum Investments
She noted that the bank might also launch a full spectrum of investment tools for bitcoin as well as other cryptocurrencies, which could be in the form of physically-settled BTC or crypto derivatives.
Although Rich did not disclose the requirement for the upcoming offering, based on Goldman Sachs’ past wealth management business, clients are usually required to invest at least $25 million.