Hedge Fund Clients Turn to Crypto: What Does Goldman Sachs Think About This?

Crypto News – As a result of the introduction of spot Bitcoin ETFs, it is said that clients of Goldman Sachs have begun to reinvest in cryptocurrency this year.

Hedge Fund Clients Turn to Crypto: What Does Goldman Sachs Think About This?

Many of his company’s biggest clients, according to Max Minton, head of digital assets at Goldman Asia Pacific, had lately entered the cryptocurrency space or were “exploring getting active,” as reported by Bloomberg on March 24.

According to Minton, the US government’s approval of ten new Bitcoin ETFs in January solidified the idea that cryptocurrency assets should be a more significant component of traditional markets and is largely responsible for the surge in interest in cryptocurrencies.

The recent ETF approval has triggered a resurgence of interest and activities from our clients.

Minton

If Ether ETFs Are Approved, Customers May Take an Interest In Them

According to Minton, the majority of new demand for Goldman’s firm’s options and futures offers originates from his current clientele, which is mainly comprised of hedge funds. Remarkably, Goldman created its first crypto trading desk in 2021, but as of right now, it does not provide its clients with any spot crypto products. Only cryptocurrency derivatives, such as Bitcoin and Ether futures and options, are exposed through the desk.

It was a quieter year last year, but we’ve seen a pickup in interest from clients in onboarding, pipeline, and volume since the start of the year,

Minton

According to Minton, the most well-liked investment vehicles among clients who are actively trading are those tied to bitcoin. Minton speculated that his company’s institutional clients might start to favor Ether if a spot Ether ETF were to be approved in the US.