Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Goldman to offer investments in digital assets for wealth management clients

03/31/2021 | 12:50pm EDT
FILE PHOTO: The Goldman Sachs company logo is seen in the company's space on the floor of the NYSE in New York

(Reuters) - Goldman Sachs Group Inc plans to offer investments in bitcoin and other digital assets to its wealth management clients from the second quarter, the latest top-tier company to move into the cryptocurrency space.

Firms including Tesla Inc, BNY Mellon Corp and Square Inc have recently announced they are betting on bitcoin, as the wider adoption of the cryptocurrency for settling transactions and investments gathers pace.

The move by Goldman, reported by CNBC earlier on Wednesday, comes days after a report that rival Morgan Stanley had started offering clients investments to the emerging asset class.

CNBC reported that Goldman would ultimately offer investments in bitcoin and digital assets that would include the physical bitcoin, derivatives or traditional investment vehicles. (https://cnb.cx/3u6VXEA)

A spokesperson for the bank confirmed the details of the report, which cited an interview with Mary Rich, the global head of digital assets for Goldman's private wealth management division.

Reuters reported earlier this month that Goldman had restarted its cryptocurrency trading desk and that it was also exploring possibilities for a bitcoin exchange-traded fund.

The rising interest in the cryptocurrency comes after Tesla revealed in February that it had bought $1.5 billion of bitcoin, helping drive the cryptocurrency to record highs and breach $1 trillion in market capitalization for the first time.

The digital currency, however, remains highly volatile.

(Reporting by Niket Nishant in Bengaluru; Editing by Aditya Soni)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
MORGAN STANLEY -0.78% 80.095 Delayed Quote.17.79%
TESLA, INC. 3.66% 701.93 Delayed Quote.-4.06%
THE GOLDMAN SACHS GROUP, INC. 0.05% 331.46 Delayed Quote.25.44%
Latest news "Economy & Forex"
03:49pDollar dips before consumer price inflation data
RE
03:49pDollar dips before consumer price inflation data
RE
03:40pItaly prepares new 40 billion euros economic stimulus package - source
RE
03:35pSoybean futures drop 1.5% as soyoil crumbles; corn, wheat weak too
RE
03:35pWORLD BANK  : Climate concerns and collection action
PU
03:33pOntario closes in-person schools due to rising COVID-19 cases - premier
RE
03:30pIran blames Israel for Natanz nuclear plant outage, vows revenge
RE
03:27pRegeneron drug proves effective in preventing COVID
RE
03:26pMexico's planned oil changes could hurt competition, antitrust body says
RE
03:16pSputnik V vaccine authorized in India
RE
Latest news "Economy & Forex"