{"id":12227,"date":"2024-04-03T10:12:19","date_gmt":"2024-04-03T07:12:19","guid":{"rendered":"https:\/\/forklog.com\/en\/goldman-sachs-clients-show-little-interest-in-cryptocurrencies\/"},"modified":"2024-04-03T10:12:19","modified_gmt":"2024-04-03T07:12:19","slug":"goldman-sachs-clients-show-little-interest-in-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/goldman-sachs-clients-show-little-interest-in-cryptocurrencies\/","title":{"rendered":"Goldman Sachs Clients Show Little Interest in Cryptocurrencies"},"content":{"rendered":"

Goldman Sachs clients have shown little interest in accessing digital assets, even after the recent price surge. This was revealed in an interview with the WSJ<\/a> by Sharmin Mossavar-Rahmani, CIO<\/span> of the bank’s wealth management division.<\/p>\n

According to her, the involvement of competitors like BlackRock and Fidelity with their bitcoin ETFs has not changed the situation.<\/p>\n

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“We do not consider this an asset class. We do not believe in cryptocurrency,”<\/em> she stated.<\/p>\n<\/blockquote>\n

One reason for the CIO’s skepticism at Goldman Sachs Wealth Management is the difficulty in accurately assessing the intrinsic value of digital assets.<\/p>\n

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“If you can’t calculate it, then how can you be bullish or bearish?”<\/em> she asked.<\/p>\n<\/blockquote>\n

Mossavar-Rahmani criticized the industry for hypocrisy. In her view, crypto enthusiasts “proclaim the democratization of finance, but key decisions are ultimately made by a few controlling individuals.”<\/p>\n

The position of the CIO at Goldman Sachs Wealth Management contrasts with statements from the bank’s Asia-Pacific director, Max Minton. In March, the executive noted a renewed interest<\/a> in cryptocurrency-related products among clients.<\/p>\n

Besides trading, Goldman Sachs is involved in tokenizing traditional assets using blockchain technology. The bank recently launched a platform called GS DAP for this purpose.<\/p>\n

Back in March 2024, Goldman Sachs announced<\/a> the possibility of acquiring claims against liquidated crypto firms.<\/p>\n

The head of the bank’s digital assets department, Matthew McDermott, noted increased interest from TradFi<\/span> representatives in tokenization.<\/p>\n","protected":false},"excerpt":{"rendered":"

Goldman Sachs clients have shown little interest in accessing digital assets, even after the recent price surge. This was revealed in an interview with the WSJ by Sharmin Mossavar-Rahmani, CIO of the bank’s wealth management division. According to her, the involvement of competitors like BlackRock and Fidelity with their bitcoin ETFs has not changed the […]<\/p>\n","protected":false},"author":1,"featured_media":12226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,728],"class_list":["post-12227","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-goldman-sachs"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=12227"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12227\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/12226"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=12227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=12227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=12227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}