2024

Bitcoin

BlackRock

Goldman Sachs, one of the world’s largest asset managers, is willing to dip into cryptocurrency, particularly Bitcoin and Ethereum, if US rules become more conducive.&nbsp; 
Speaking at a Reuters event on December 5, 2024, CEO David Solomon said that the firm would “look at” entering those markets as demand for digital assets rises. However, some rules still don’t allow Goldman Sachs to hold or trade cryptocurrencies directly.&nbsp; 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
 <img decoding="async" width="569" height="484" src="https://www.cryptotimes.io/wp-content/uploads/2024/12/Reuter-Newyork-event-1-569x484.png" alt="Reuter Newyork event" class="wp-image-222142">
 <figcaption class="wp-element-caption">
 Reuter Newyork event | Source: <a href="https://x.com/i/broadcasts/1YqxovdmDVvJv" target="_blank" rel="noreferrer noopener nofollow">X</a>
 </figcaption>
 </figure>
</div> 
Solomon offered his remarks as Bitcoin hit $100,000 for the first time ever in histrory. The gain has given rise to further interest by large investors.&nbsp; 
Goldman Sachs is already indirectly active in the crypto market through Bitcoin exchange-traded funds. The company holds roughly $710 million in Bitcoin ETFs, with heavy holdings in the BlackRock iShares BTC ETF, which alone makes up $461 million of its total holdings.&nbsp; 
This really does reflect the rise in the conviction for Bitcoin, especially crossing through its November 2024 high. On his part, Solomon repeated that the digital currency is an interesting technology, although he gave his opinion in terms of uncertainty concerning regulations between the US authorities.&nbsp; 
Goldman Sachs has also been actively engaged in the blockchain space aside from its forays into cryptocurrencies. The company is preparing to unveil tokenization products tailored specifically for institutional clients, driven by the strategic move in response to growing demand for digital asset solutions.&nbsp; 
In November 2024, Goldman Sachs revealed a spin-off platform that will focus entirely on blockchain technology, a clear testimony to the investment bank’s strong commitment to this fast-growing sector.&nbsp; 
Despite the regulatory hurdles, Solomon still has a sense of confidence that a conducive environment may just open up massive growth opportunities for the firm in the digital asset space.&nbsp; 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/11/18/goldman-sachs-to-launch-blockchain-trading-platform/" target="_blank" rel="noreferrer noopener">Goldman Sachs to Launch Blockchain Trading Platform</a> 
</blockquote>

Goldman Sachs Eyes Crypto Market if US Regulations Evolve

The Crypto Times

Other articles published on Dec 10, 2024

Matt Hougan Calls for Clear Crypto Regulations

One Of Donald Trump’s Sons Predicts The End Of Traditional Banks

Crying Kamala (CRYKAMA) Solana Memecoin Will Explode 17,000% Before Exchange Listing, While BONK,...

Pump.fun Hits $372M Revenue with SOL Transfers to Kraken

PEPE’s Cup and Handle: Is a Breakout on the Horizon?

Can Shiba Inu Bounce Back After 27% Price Dip?

Join our free newsletter for daily crypto updates!