Institutional Crypto Exposure Hits 51%, Goldman Sachs Study Shows

Out of 172 institutional clients surveyed, leading global investment bank, Goldman Sachs found out that 51% of them had crypto exposure, according to a report published by Arcane Research.

The survey noted that institutional interest in cryptocurrencies was witnessing strong growth because crypto exposure rose from 40% in 2021 to 51% in 2022. 

Source: Arcane Research

Furthermore, this growth is expected to increase. Per the report:

“Of the 172 surveyed clients, 60% responded that they expect to increase their digital asset holdings in the next one to two years.”

Goldman Sachs eyes rolling out crypto investment services 

Goldman Sachs has been gearing up for the crypto space in recent weeks, given that its website is giving digital assets a keen eye. 

The newly appointed global head of digital assets at Goldman’s private wealth management division, March Rich, recently disclosed that the bank was considering availing a “full-spectrum” of crypto investments through derivatives, physical Bitcoin, or traditional investment vehicles. 

Therefore, Goldman Sachs is edging closer to rolling out its first investment vehicles for crypto assets for clients in its private wealth management group.

Rich noted:

“Some Goldman clients 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 added:

“We are working closely with teams across the firm to explore ways to offer thoughtful and appropriate access to the ecosystem for private equity clients, and that is something we look forward to delivering in the near term.”

The bank recently disclosed that it was looking at ways of meeting increasing client demand to own and invest in Bitcoin while still staying on the right side of the law, Blockchain.News reported.  

Image source: Shutterstock


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Goldman Sachs Trades First Over-the-Counter Crypto Transaction with Galaxy Digital

Goldman Sachs Group Inc, a major US multinational investment bank headquartered in New York City, has further expanded its digital-asset offerings to Wall Street investors. - 2022-03-22T141655.935.jpg

The investment bank announced Monday that it has traded the first non-deliverable Bitcoin option, a derivative tied to Bitcoin’s price that pays out in cash.

The transaction was facilitated by Galaxy Digital Holdings Ltd., a crypto financial-services company led by former Goldman partner Michael Novogratz. The move marked Goldman’s push further into the nascent market for derivatives tied to digital assets.

The product launch is important as crypto holders such as hedge funds, and Bitcoin miners are looking for derivative exposure to Bitcoin, either to make bets on the cryptocurrency’s price without directly owning it or to hedge existing exposure to it. They use options to hedge risks or boost yields, and over-the-counter transactions are normally larger trades negotiated privately.

In a statement, Damien Vanderwilt, the co-president and head of global markets at Galaxy, talked about the development and said: “This marks the first OTC crypto transaction by a major bank in the U.S. as Goldman Sachs continues expanding its cryptocurrency offerings, demonstrating the continued maturation and adoption of digital assets by banking institutions. The move is set to open the door for other banks considering OTC as a conduit for trading digital assets.”

Max Minton, Goldman’s Asia Pacific head of digital assets, also commented about the announcement and stated: “This is an important development in our digital assets capabilities and for the broader evolution of the asset class.”

Enabling Customer’s Access to Digital Assets Markets

Early this month, Goldman Sachs Group Inc started exploring offering over-the-counter bilateral crypto options, which signalled to expand its participation in helping firms trade digital-currency derivatives.

Following a growing demand from institutional clients, Goldman reopened its crypto trading desk in March last year after a three-year break. As a result, Goldman tapped Galaxy Digital as its liquidity provider or a market maker for block trades on CME Group. Goldman opened up trading of non-deliverable forwards, a derivative tied to Bitcoin’s price that settles in cash. It also provides exchange-listed options and futures trading in Bitcoin and Ether.

The major investment bank has seen demand for derivative-type hedging, and the development of an options market is set to be the next big thing.

The market for these options is still in its infancy and has been dominated by crypto-native companies like Galaxy Digital Holdings Ltd, Genesis Global Trading Inc., and GSR.

Through Galaxy Digital, Goldman now provides liquidity and takes risk on behalf of clients to facilitate larger crypto derivatives trades.

Image source: Shutterstock


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Goldman Sachs Offers Customers Access ETH Fund via Galaxy Digital

Multinational investment bank Goldman Sachs today announced its partnership with Galaxy Digital, the crypto merchant bank founded by Mike Novogratz, to once more enable its customers to get greater access to the crypto business. - 2022-03-10T143934.860.jpg

According to a new Securities and Exchange Commission filing, New York City headquartered Goldman Sachs has been giving its customers exposure to ETH through Galaxy Digital’s Ethereum Fund.

Customers of Goldman Sachs who intend to invest in Ethereum (ETH) on the spot, can now get access through Galaxy’s ETH Fund.

As per the filing dated March 8, Goldman was named as a receiver of fees for introducing customers to the fund.

While the actual amount bought by Goldman clients is unknown, the filing shows the minimum investment per investor is $250,000. The report further indicates that the Galaxy’s ETH Fund has made sales of slightly more than $50.5 million since its beginning.

Goldman Sachs is now recommending Galaxy Digital’s ETH Fund as a potential investment product that clients should go for.

Expanding Access of Crypto Product to Clients

This is not the first time Goldman Sachs and Galaxy Digital have collaborated. Goldman has been ramping up its cryptocurrency work in recent months. In June last year, the investment bank started trading Bitcoin futures with Galaxy Digital to help clients as hedge funds deal in publicly traded futures tied to Bitcoin. The trades represented the first time that Goldman used a digital assets firm as a counterparty.

In May, Goldman created a cryptocurrency trading desk to make markets in digital currencies such as Bitcoin. The move marked its major step in digital assets investing.

Goldman assigned Galaxy to serve as its liquidity provider to help it equip its clients with best-execution pricing and secure access to the assets they want to trade.

Goldman has been leaning on Galaxy for access to the crypto world because the highly regulated banking industry can’t handle Bitcoin directly. Goldman found Galaxy as a partner with a wide range of liquidity venues and differentiated derivatives capabilities spanning the crypto ecosystem.

In July, Goldman filed an application with the US Securities and Exchange Commission (SEC) to offer an exchange-traded fund (ETF) focused on securities of cryptocurrency-related companies.

Image source: Shutterstock


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Goldman Sachs: Mainstream Adoption Won’t Boost Bitcoin Price

Goldman Sachs’s words have been interpreted as a sign that the cryptocurrency craze may be coming to an end. The analysts at this global banking powerhouse say they don’t see mainstream adoption boosting the crypto industry soon. Unfortunately, that means bad news for those who bought bitcoin or other crypto assets on hope chests full-force optimism about its value increases exponentially over time.

Cryptocurrencies are becoming more and more popular as the adoption rate for Bitcoin increases. The strategists tell Bloomberg that correlation has started to occur with other macro assets such as crude oil, technology stocks, US dollar – all of which have seen significant growth recently too.

Diverse asset classes have often been seen as a way to diversify your investments. However, according to analysts, this may not be true for crypto assets due to their high correlation with traditional markets. Making them uniquely susceptible during economic downturns or periods where there’s investor panic on exchanges like Binance losing half its value within months.

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“Mainstream adoption can be a double-edged sword. While it can raise valuations, it will also likely raise correlations with other financial market variables, reducing the diversification benefit of holding the asset class.”

The Decline In Crypto Industry

Cryptocurrencies have been on a steady decline since November. The market capitalization of all crypto has dropped from $2.8 trillion at its peak in November to just $1.68 trillion now as I write these words. Analysts point out how correlations with stocks or strength USD often influences prices, but what about wider? Is there anything else going through these declined markets besides traditional economic factors like interest rates & business profits?

Related Reading | Which Cryptocurrencies Suffered The Worse Collapse Since All-Time Highs?

Market Capital
Crypto Market Capital disintegrates to $1.68 trillion. Source:

What might be causing such dramatic price fluctuations across different cryptography currencies- both rise and fall. The blame doesn’t lie solely on one side, though; many factors are driving up or down prices. Those include government regulations abroad where most blockchain technologies operate (such as China and Russia).

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Whether blockchain technology can escape from macroeconomic influence and monetary policy is still an open question.

Goldman says;

“Over time, further development of blockchain technology, including applications in the metaverse, may provide a secular tailwind to valuations for certain digital assets. But these assets will not be immune to macroeconomic forces, including central bank monetary tightening.”

                  Featured image from Pixabay, chart from


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Goldman Sachs: Growing Crypto Adoption Might Not Push Prices Higher

According to analysts at the multinational investment bank Goldman Sachs, the growing mainstream acceptance might not result in higher prices for digital assets. Instead, the institution opined that the USD value of bitcoin and the altcoins correlate with inflation and other economic events.

Bitcoin May Not Go Up Due to Adoption

Many experts predict that the prices of most cryptocurrencies will surge should they receive wider mainstream acceptance. However, Goldman Sachs’ strategists Zach Pandl and Isabella Rosenberg are not convinced this will be the case.

“Crypto’s recent selloff underscores that mainstream adoption can be a double-edged sword. While it can raise valuations, it will also likely raise correlations with other financial market variables, reducing the diversification benefit holding in the asset class,” they noted.

In their view, the valuation of digital assets is positively affected by macro-economical factors like breakeven inflation, the prices of crude oil, and the USD value of “frontier” technology stocks. Contrarily, the government’s intentions to combat the financial turbulence could harm the primary cryptocurrency.

Earlier this week, Jerome Powell – Chairman of the Federal Reserve – reiterated the institution’s plans to raise rates and lower the Fed’s balance sheet in March. Shortly after his speech, BTC tumbled from $38,200 to below $37,000.

Pandl and Rosenberg concluded that the further development of blockchain technology, including applications in the Metaverse, “may provide a secular tailwind to valuations” for certain cryptocurrencies. On the other hand, those assets will not be immune to macroeconomic forces such as central bank monetary tightening.


BTC Needs to Steal Gold’s Attention to Reach $100K

At the beginning of 2022, Pandl highlighted a scenario in which bitcoin could reach the $100,000 milestone in the following years. According to him, though, this would happen if institutional investors start preferring purchasing bitcoin instead of gold.

“If bitcoin’s share of the store of value market were “hypothetically” to rise to 50 percent over the next five years, its price would increase to just over $US100,000, for a compound annualized return of 17 percent or 18 percent.”

A few days later, Guido Buehler – Chief Executive Officer of the Swiss-based SEBA Bank – also stated that bitcoin could more than double its price sometime this year. The exec believes institutional investments will be the main factor for this:

“Our internal valuation models indicate a price right now between $50,000 and $75,000. I’m quite confident we are going to see that level. The question is always timing.”

Featured Image Courtesy of WSJ


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Former Goldman Sachs CEO Reverses Stance on Bitcoin (BTC) and Crypto, Says Digital Assets Are Maturing

EX Goldman Sachs CEO Lloyd Blankfein says that his view of Bitcoin (BTC) and other cryptocurrencies has changed over the years.

Blankfein says in a CNBC interview that his view of cryptocurrencies is “evolving” as crypto assets make their mark in the world.

“Look my view of it [crypto] is evolving…

I can’t predict the future. But I think it’s a big thing to be able to predict the present, like what is happening. And I look at the crypto and it is happening.”

The former Goldman Sachs CEO says that despite crypto prices crashing and hundreds of billions of dollars evaporating, the positives of crypto and blockchain technology are evident.

“I’d say at the point now it’s lost a lot of value but at a point where it’s trillions of dollars of value contributing to it and the whole ecosystems are growing around it.

And of course, we have the benefits of instantaneous transfer and so reduction of credit risk and all the benefits of blockchain that a million people come on your show and talk about.

I may be skeptical but I’m also pragmatic about it. And so guess what, I certainly want to have an oar in that water.”

In November of 2017, while serving as the CEO of Goldman Sachs, Blankfein said that “maybe Bitcoin is a kind of a bubble” and that he wasn’t “comfortable” with it. Blankfein, however, left open the possibility that his views were wrong.

“If it works, I say to myself, ‘Hmmm, maybe that was a natural progression from hard money to fiat money to consensus money.’ So who’s to say.”

Blankfein made the remarks a day after Bitcoin hit a then-record high of around $7,416 on November 8th of 2017.

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Former Goldman Sachs Exec Adam Dell Introduces a New Crypto Investment Platform

Adam Dell – former Head of Product at Marcus by Goldman Sachs – launched a new wealth-building platform focused on both cryptocurrencies and stocks. The project is called Domain Money and aims to grant investors opportunities such as more control and access to their assets, real-time intelligence, and live customer agents.

The Birth of Domain Money

Ahead of going live, the new investment platform, which targets retail users, raised $33 million from investors, including Bessemer Ventures, SV Angel, RRE Ventures, Maveron, and others. Its developers are Adam Dell and other team members behind Marcus by Goldman Sachs.

Adam Dell – whose brother is Michael Dell (CEO of Dell Technologies) – revealed that Domain Money’s mission is to “build consumer’s wealth.” He said the team behind the project “utilizes time-tested investment strategies” to create the best environment for new and experienced investors.

The American added that users seek security, transparency, and power to control their finances when investing. As such, his platform will aim at those features and more:

“We developed Domain Money to provide investors a sophisticated, intuitive, and holistic platform to invest in crypto, not as a novelty, but as a core component of their portfolios.”

The company will have prominent advisors behind it. These include Christopher Giancarlo – former Chairman of the Commodities Futures Trading Commission (CFTC), Do Kwan – Founder of Terra Network, and Niall Ferguson – Senior Fellow at the Hoover Institution.


Investment App Betterment Wanted to Provide Crypto Services

The New York-based investment application with over 650,000 customers and nearly $30 billion of assets under management – Betterment – revealed last year plans to add cryptocurrency services for its clients.

Back then, the Chief Executive Officer at the company – Sarah Levy – spoke about the notorious volatile nature of the asset class. However, she asserted that her company could reduce the risks of dealing with digital currencies by educating its users on the matter:

“We know investors increasingly have an interest in crypto, so what we’re doing is really trying to figure out: Is there a way that we can offer crypto with a guided wrapper so that we can help educate along the way?”

She labeled bitcoin and the alternative coins as “countercyclical,” meaning they perform well even when the economy passes through harsh times. Speaking on a personal level, she said she is a “big fan of crypto” and advised investors to adopt the popular HODLing strategy to benefit the most from the asset class.

According to the official site of Betterment, though, the organization has not added cryptocurrency options for its customers yet.

Featured Image Courtesy of Bloomberg


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Former Goldman Sachs Marcus Head Launches Crypto Investing App with $33M

American venture capitalist Adam Dell, brother of Michael Dell, the founder of computer manufacturing company Dell Inc Component investment team backed the former head of product at “Goldman Sachs Marcus” crypto investment app “Domain Ventures”.

Reportedly, $33 million has been raised for this project on January 25. Adam Dell leads the investment team with 25 former Goldman Sachs employees.

Former Goldman Sachs CTO Elisha Wiesel and former Commodity Futures Trading Commission Chairman Christopher Giancarlo were also invited to join the project.

The app will target retail investors with real-time market analysis and client representation to help clients manage and plan their investment portfolios. Domain Ventures will charge an annual management fee of 1%.

Investors in the project include venture capital firm Bessemer Ventures and Inc. co-founder Marc Benioff, also include Maveron, RRE Ventures, SV Angel, and Joe Lonsdale, according to Bloomberg.

Adam Dell says that:

“We developed Domain Money to provide investors a sophisticated, intuitive, and holistic platform to invest in crypto, not as a novelty, but as a core component of their portfolios.”

U.S.-based cryptocurrency exchange Gemini will facilitate the app’s crypto trading capabilities and digital clearing & custody engine that provides a suite of innovative technology solutions that support the complete trading & investing Apex Clearing will provide securities trading and custody.

Image source: Shutterstock


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Ex-Goldman Sachs banker launches crypto app after $33M raise

The former Head of Product for “Marcus by Goldman Sachs” has launched a crypto investing app, “Domain Ventures,” raising $33 million from investors on Jan 25.

Adam Dell, brother of Dell computers tycoon Michael, assembled a team of 25 former staff members from Goldman Sachs. Other staffers are leaving their roles at Bridgewater Associates, Morgan Stanley, Coinbase Global Inc. and BlockFi. Former Goldman Sachs CTO Elisha Wiesel, and Christopher Giancarlo, thformer Chairman of the Commodities Futures Trading Commission have also been tapped to join the project.

The app is targeted at retail users, who will be charged an annual management fee of 1% for actively managed and curated investment plans. The app features real-time market intelligence, live customer agents as well as social sentiment analysis.

Gemini will facilitate the app’s crypto trading feature, and Apex Clearing will provide securities trading and custody.

Related: Goldman Sachs to offer Bitcoin futures trading in partnership with Galaxy Digital

Investors in the project include venture capital firm Bessemer Ventures and Marc Benioff, who is the co-founder of Inc. Also Maveron, RRE Ventures, SV Angel and Joe Lonsdale

“Investors are looking for access to diverse asset classes, along with security, transparency, and the power to be in control of their finances,” said Dell in a Jan 25 announcement, adding that his mission is to grow his customers’ wealth.

“We developed Domain Money to provide investors a sophisticated, intuitive, and holistic platform to invest in crypto, not as a novelty, but as a core component of their portfolios.”


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Crypto is Happening Despite the Crash, Says Former Goldman Sachs CEO

The former Chief Executive Officer of Goldman Sachs – Lloyd Blankfein – opined that the ecosystem surrounding cryptocurrencies has evolved in the past year. As such, he raised hopes that the digital asset industry is “happening” despite the recent price crash.

Optimism During The Crash

The American banker who served as Goldman Sachs’ CEO until 2018 has not always been kind to the cryptoverse. At the beginning of 2021, he questioned bitcoin’s ability to be a store of value due to its massive volatility. He also touched upon private keys, saying they are confusing as people could easily lose them.

During his most recent interview with CNBC, though, Blankfein was more supportive. He noted that 2021 had been a highly successful year, and bitcoin and the altcoins have attracted trillions of dollars. Even though most digital assets have been deep in red for the past couple of days, the 67-year-old American believes that “crypto is happening:”

“Look, my view of it is evolving. I can’t predict the future, but I think it’s a big thing to be able to predict the present, like, ‘What is happening?’ And I look at the crypto, and it is happening.”

Speaking on the current price dip, Blankfein said it is not much of a concern since there is a considerable amount of capital invested in the asset class already. He also outlined that bitcoin and altcoins have their benefits to the financial network, such as “instantaneous transfer and reduction of credit risk.”

“And guess what? I would certainly want to have an oar in that water,” Blankfein concluded, hinting he might hop on the cryptocurrency bandwagon.

Lloyd Blankfein
Lloyd Blankfein. Source: CNBC

Crypto’s Current Condition

Even though Blankfein thinks “crypto is happening,” the current market situation is quite. Since the beginning of the year, most digital assets have been on a downtrend. Things are looking rather disappointingly for bitcoin, too. The biggest cryptocurrency by market capitalization finished the year with a price tag of around $47,000.


Considered by many as a hedge against inflation and even digital gold, the asset tumbled further at the beginning of 2021 after the Federal Reserve revealed plans to fight the monetary turmoil in the United States.

On that note, Mark Cuban – the owner of the Dallas Mavericks and a proponent of the crypto world – opined that BTC is not and will never become an inflation hedge.

In the following weeks, bitcoin continued its decline and at the moment of writing these lines, it is hovering around $34,000.


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Bitcoin (BTC) $ 41,703.17 5.37%
Ethereum (ETH) $ 2,223.08 2.87%
Litecoin (LTC) $ 72.89 1.79%
Bitcoin Cash (BCH) $ 248.16 9.22%