Facebook with Latestnigeriannews  Twieet with latestnigeriannews  RSS Page Feed
Home  |  All Headlines  |  Punch  |  Thisday  |  Daily Sun  |  Vanguard   |  Guardian  |  The Nation  |  Daily Times  |  Daily Trust  |  Daily Independent
World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  More Channels...

Viewing Mode:

Archive:

  1.     Tool Tips    
  2.    Collapsible   
  3.    Collapsed     
Click to view all Entertainment headlines today

Click to view all Sports headlines today

Goldman Sachs is close to offering bitcoin and other digital assets to its rich private wealth-management clients, report says

Published by Business Insider on Wed, 31 Mar 2021


<p><img src="https://static1.businessinsider.com/image/606467ef6183e10019819746-1024/GettyImages-1231982031.jpg" border="0" alt="GettyImages 1231982031" data-mce-source="Nicolas Economou/NurPhoto via Getty Images"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><ul class="summary-list"><li>Goldman Sachs is close to offering bitcoin and other digital assets to its rich clients, CNBC reported.</li><li>This could happen as soon as the second-quarter of 2021, the bank's global head of digital assets said.</li><li>A contingent of clients is looking for ways to participate in the digital assets space, she said.</li><li aria-level="1"><strong><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</strong></li></ul><hr><p><a href="https://markets.businessinsider.com/stocks/gs-stock">Goldman Sachs</a> could begin to offer <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> and other digital-asset related investments to its private wealth-management clients, <a href="https://www.cnbc.com/2021/03/31/bitcoin-goldman-is-close-to-offering-bitcoin-to-its-richest-clients.html">CNBC reported</a> on Wednesday.</p><p>The bank could offer these investment vehicles as soon as the second-quarter, CNBC reported, citing Goldman's recently named global head of digital assets, Mary Rich.</p><p><strong></strong>We are working closely with teams across the firm to explore ways to offer thoughtful and appropriate access to the ecosystem for private wealth clients, and that is something we expect to offer in the near-term," Rich told CNBC in an interview this week.</p><p>The bank is exploring a range of investments in digital assets, right from physically-backed bitcoin, derivatives, or traditional investment vehicles, she said.</p><p>Bitcoin's digital gold narrative remains at the forefront of the minds of growing numbers of people from traditional finance drawn towards the cryptocurrency. That has helped big US banks look at digital assets with less skepticism.</p><p>Goldman's private wealth management business mostly caters to clients that hold at least $25 million in investment capacity. Rich said a group of clients is looking at bitcoin as an inflationary hedge and the macro environment of the past 12 months has played a factor there. "There are also a large contingent of clients who feel like we're sitting at the dawn of a new Internet in some ways and are looking for ways to participate in this space," she said.</p><p>Earlier this month, Morgan Stanley announced it would offer <a href="https://markets.businessinsider.com/currencies/news/bitcoin-morgan-stanley-to-offer-wealthy-clients-btc-fund-access-2021-3-1030221077'utm_source=markets&amp;utm_medium=ingest">wealthy clients access to three bitcoin funds</a>. Two are run by Galaxy Digital, headed by Mike Novogratz, while one will be jointly managed by asset manager FS Investments and NYDIG.</p><p>Goldman could offer similar bitcoin funds, as well as other ways to invest that are "more akin to the underlying asset class, which trades 24-7 globally," Rich said. She said some bitcoin funds, like Galaxy's, can only be traded once a quarter.</p><p>"We're still in the very nascent stages of this ecosystem. No one knows exactly how it will evolve, or what shape it will be," Rich said. "But I think it's fairly safe to expect it will be part of our future."</p><p>Bitcoin was last trading 1.1% lower at $58,057 on Wednesday, but it is up 96% year-to-date and about 800% since this time last year.</p><p><a href="https://markets.businessinsider.com/currencies/news/bitcoin-goldman-sachs-digital-assets-offering-rich-investors-q2-wealth-2021-3-1030263727#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/how-symphony-seas-worlds-largest-cruise-ship-deals-with-waste-2020-3">How waste is dealt with on the world's largest cruise ship</a></p>
Click here to read full news..

All Channels Nigerian Dailies: Punch  |  Vanguard   |  The Nation  |  Thisday  |  Daily Sun  |  Guardian  |  Daily Times  |  Daily Trust  |  Daily Independent  |   The Herald  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  New Telegraph  |  Peoples Daily  |  Blueprint  |  Nigerian Pilot  |  Sahara Reporters  |  Premium Times  |  The Cable  |  PM News  |  APO Africa Newsroom

Categories Today: World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Columns  |  All Headlines Today

Entertainment (Local): Linda Ikeji  |  Bella Naija  |  Tori  |  Pulse  |  The NET  |  DailyPost  |  Information Nigeria  |  Gistlover  |  Lailas Blog  |  Miss Petite  |  Olufamous  |  Stella Dimoko Korkus Blog  |  Ynaija  |  All Entertainment News Today

Entertainment (World): TMZ  |  Daily Mail  |  Huffington Post

Sports: Goal  |  African Football  |  Bleacher Report  |  FTBpro  |  Kickoff  |  All Sports Headlines Today

Business & Finance: Nairametrics  |  Business Insider  |  Forbes  |  Entrepreneur  |  The Economist  |  BusinessTech  |  Financial Watch  |  BusinessDay  |  All Business News Headlines Today

Technology (Local): Techpoint  |  TechMoran  |  TechCity  |  Innovation Village  |  IT News Africa  |  Technology Times  |  Technext  |  Techcabal  |  All Technology News Headlines Today

Technology (World): Techcrunch  |  Techmeme  |  Slashdot  |  Wired  |  Hackers News  |  Engadget  |  Pocket Lint  |  The Verge

International Networks:   |  CNN  |  BBC  |  Al Jazeera  |  Yahoo

Forum:   |  Nairaland  |  Naij

Other Links: Home   |  Nigerian Jobs