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Hedge fund clients of American banking giant Goldman Sachs have renewed interest in cryptocurrency options, a trend that particularly coincides with support for the product by retail traders.around Bloomberg reportinginterest in cryptocurrencies by the bank’s hedge fund clients has risen dramatically since the beginning of the year, a dramatic shift from slow adoption since last year.
Interest in virtual currency is increasing
Max Minton, head of digital assets for Asia Pacific at Goldman Sachs, acknowledged this trend in an interview. He said the recent approvals Spot Bitcoin Exchange Traded Fund (ETF) products have driven interest in the ecosystem.
“The recent ETF approvals have sparked a resurgence of interest and activity among our clients,” Minton said, adding, “Many of our largest clients are active in this space, or are in the process of becoming active.” I’m trying to figure out what to do,” he added.
The digital currency ecosystem is gaining mass acceptance as the Spot Bitcoin ETF product caused a supply shortage and BTC prices returned to new levels. Best ever (ATH) over $73,000. This price reboot has become an attractive force for institutional investors who have a more regulated means of investing in Bitcoin through ETFs.
Minton points out that it is primarily traditional hedge funds that are entering the crypto options market through Goldman Sachs, while the financial giant is targeting more banking clients and asset managers. He admitted that he is trying to expand his customer base.
Bitcoin is currently classified as a specific asset class that boasts a record number of ETFs since its inception, and Goldman Sachs continues to push for good market share.
Goldman Sachs and the world of cryptocurrencies
Although Goldman Sachs has played a conservative role in the cryptocurrency ecosystem recently, the large bank is one of the key pioneers of crypto options trading. year of breakout Goldman Sachs established a cryptocurrency trading engine in 2021, offering cash-settled options trading for Bitcoin and Ethereum, respectively.
In addition to joining Blockchain pilot testGoldman Sachs is also expanding its influence in the digital currency ecosystem by investing in companies with long-term growth prospects.
“We have a portfolio and will invest where it makes strategic sense,” Minton said.
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