Specifically, the global banking giant plans to start offering its first investment vehicles for Bitcoin (BTC) and other cryptocurrencies to its clients in the second quarter of 2022, according to Mary Rich, the new global head of digital assets for Goldman’s private wealth management division. The bank’s ultimate goal is to introduce support for a “full spectrum” of digital assets, “whether through the physical Bitcoin, derivatives or traditional investment vehicles,” she told CNBC in an interview published on March 31.
Client demand for crypto wins despite skepticism
In particular, Rich’s division mostly caters to individuals, families, and endowments that have at least $25 million to invest. She took note of the growing interest of these clients in digital assets, commenting that: Interestingly, Finbold has earlier reported on a study that found that only 15% of investment advisors in 2021 were willing to allocate a portion of their portfolios to crypto, with the other 85% still not trusting cryptocurrencies as a valid investment choice. However, the same survey also found that as many as 94% of the financial advisors had received inquiries about crypto from their clients, proving that there’s no lack of interest in them among the investors themselves.
