Goldman Sachs reports nearly half of its rich family office clients want to get into crypto
July 21, 2021, 8:29PM EDT
1 min read
Family offices—the investment firms overseeing the wealth of the richest families in the world—are eyeing the crypto market, according to a survey by investment banking giant Goldman Sachs.
The firm—which recently has been making its own big moves in crypto–surveyed its family office clients and found that 15% of them have already invested in crypto, as per a report by Bloomberg News.
The report added that another 45% are looking to enter the market because of "higher inflation, prolonged low rates, and other macroeconomic developments following a year of unprecedented global monetary and fiscal stimulus," according to Bloomberg. Goldman surveyed 150 family offices across the world.
In March, CNBC reported that Goldman Sachs was close to offering its private wealth clients the opportunity to invest in bitcoin-tied investment vehicles. At the time, the bank announced Mary Rich would lead the effort as its global head of Digital Assets for Goldman's private wealth management division. On the trading side of the house, Goldman has been facilitating bitcoin derivatives trading for its clients.
Arca provides fundamental information about decentralized autonomous organizations (DAOs) for institutions transitioning into the age of tokenized ecosystems. This guide explores the components, purpose, functions, and practical applications of these nascent entities and the opportunities and challenges for this compelling governance approach.
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.