Connect with us

Hi, what are you looking for?

Oracle of  Omaha SaysOracle of  Omaha Says

Editor's Pick

Goldman Sachs CIO Says Bitcoin Is Not an Investment Asset Class

Goldman Sachs chief investment officer Sharmin Mossavar-Rahmani, said in an interview with the Wall Street Journal, Bitcoin is not considered an investment asset class, adding “we’re not believers in crypto.”

Wall Street has been coming round to the idea of cryptocurrency as an asset class with many traditional financial institutions such as BlackRock and Fidelity even launching products such as a spot Bitcoin exchange traded fund (ETF) for investors. The recent trading frenzy shows the demand for digital products is there.

Goldman Sachs Remains Old-School

However, Goldman Sachs remains skeptical and old-school about Bitcoin. Mossavar-Rahmani, questions the value of Bitcoin, and told the publication “If you cannot assign a value, then how can you be bullish or bearish?” —  She went on to add that clients have not shown interest in Bitcoin.

Client Demand Is There

Recently Goldman Sachs’ hedge fund clients were reportedly showing increased interest in crypto derivatives, spurred by the resurgence of the crypto market. The bank officially launched its crypto trading desk in 2021. It then began to facilitate various Bitcoin-linked trades, including Bitcoin non-deliverable futures and CME BTC futures, following years of contemplation dating back to 2017.

Currently, Goldman offers cash-settled Bitcoin and Ether option trading, alongside CME-listed Bitcoin and Ether futures. However, it does not directly trade the actual underlying crypto tokens themselves, reports Shalini Nagarajan from Cryptonews.

Max Minton, Goldman’s Asia Pacific head of digital assets, has said in an interview that the recent approval of ETFs has reignited interest and activity among the bank’s clients.

Minton noted that many clients are either currently active in the crypto space or are considering entering it. There has been a noticeable increase in client interest, onboarding, pipeline, and trading volume since the beginning of the year.

Goldman Sachs Likes to Dabble … Discreetly

In 2021, it emerged Goldman Sachs, ICAP, JPMorgan, and UBS had all bought the first exchange-traded product (ETP) in Europe that offered exposure to Polkadot’s DOT cryptocurrency for clients, as reported by CoinDesk. 

The post Goldman Sachs CIO Says Bitcoin Is Not an Investment Asset Class appeared first on Cryptonews.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    A former Republican legislative candidate who traveled to Washington for former President Donald Trump’s ‘Stop the Steal’ rally was arrested Friday and charged with...


    Even as U.S. inflation broadly cools, frozen vegetable prices are hot. The average shelf price for frozen veggies rose by 18% in the past year...

    Latest News

    Abbe Lowell, Hunter Biden’s attorney, filed an ethics complaint Friday against Georgia Rep. Marjorie Taylor Green after she displayed censured nude photos of the president’s...

    Latest News

    President Biden has overruled the Pentagon and chosen Adm. Lisa Franchetti to lead the Navy, making her the first woman, if she’s confirmed, to...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024