Matthew McDermott, head of digital assets at an American bank, noted the growing demand for cryptocurrencies among institutional investors.
Bitcoin has become an investment asset that is in the adoption phase, says Matthew McDermott, head of digital assets at investment bank Goldman Sachs. In a letter to Global Marco Research, he acknowledged the growing demand for cryptocurrencies among institutional investors and asset managers .
According to McDermott, inconsistent regulatory actions can have a negative impact on the development of the digital asset market. At the same time, cryptocurrency storage solutions have become safer.
Some of Goldman Sachs‘ clients are showing interest in cryptocurrency. In addition to Bitcoin, investment bank clients also pay attention to Ethereum, said a top manager.
According to him, Goldman Sachs will offer corporate clients access to cryptocurrency through a fund or structured products.
In early May, Goldman Sachs was the first among the largest US investment banks to create a cryptocurrency trading department. The new department has already successfully traded two types of bitcoin-related derivatives.
