Goldman Sachs, a major investment bank, will add bitcoin-based investment instruments to its product lineup in the second quarter of 2021. CNBC reports, citing Mary Rich, the bank’s head of digital assets.
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According to her, over time the bank will offer a \”full spectrum of cryptocurrency investments.\” Among them are traditional products, derivatives and physically backed instruments.
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\”Clients see Bitcoin as an inflation hedge. They believe the world is at the dawn of a new Internet and strive to be part of it,\” said Rich.
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According to the publication, the new service will be available to clients of the bank’s private wealth management division with assets of at least $25 million.
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Earlier in March 2021, Goldman Sachs’ chief operating officer John Waldron noted growing client interest in digital assets.
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In May 2020, Goldman Sachs analysts doubted that Bitcoin and other cryptocurrencies could be considered a standalone asset class.
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