Goldman Sachs To Become Second Big Bank Offering Bitcoin To Wealthy Clients

Goldman Sachs To Become Second Big Bank Offering Bitcoin To Wealthy Clients

Share to Linkedin Less than two weeks after Morgan Stanley said it will start offering bitcoin exposure to its wealthy clients, banking powerhouse Goldman Sachs is also pushing deeper into the space, telling CNBC this week that it's looking to offer a "full spectrum" of cryptocurrency investments for its private wealth clients within the next few months. Goldman Sachs CEO David M. Solomon in a panel discussion during the annual Milken Institute Global ... [+] Conference at The Beverly Hilton Hotel on April 29, 2019. Goldman expects to begin offering bitcoin exposure to clients of its private wealth management division in the second quarter, Mary Rich, the division's new global head of digital assets, told CNBC in an interview published Wednesday. Though Goldman has yet to state which crypto investments it will support to begin with, Rich said the bank ultimately hopes to offer a "full spectrum" of digital asset investments, including tokens themselves, as well as derivatives and traditional investment vehicles. In an internal memo announcing Rich's appointment on Wednesday, Goldman said Rich will "leverage the firm's capabilities to ensure [it] can meet client's interest across digital asset classes and technologies." The development comes within weeks of Goldman restarting