Goldman Sachs is close to offering its first investment vehicles for Bitcoin and other digital assets to its wealthy clients, according to CNBC. The bank aims to begin offering investments in the emerging asset class in the second quarter.
The move means Goldman joins Morgan Stanley as the top investment bank pursuing digital currencies.
Goldman’s global head of digital assets for the private wealth management division, Mary Rich, said client demand won out in its recent push into cryptocurrencies.
Goldman’s private wealth management business mostly targets individuals, families, and endowments with at least $25 million to invest.
The bank may offer Bitcoin investment funds similar to those of Morgan Stanley as well as other ways to invest.
The entry of Goldman is the latest sign of the staying power of blockchain-related assets, including Bitcoin, which big US banks have largely shunned.
Major cryptocurrencies are currently gaining. BTC/USD is up 0.22%, ETH/USD is up 0.05%
