Many institutional investors are intrigued by the blockchain space after witnessing the recent boom of Bitcoin. Yet there exist various barriers to entry, as most traditional investing platforms do not include them as an option. Furthermore, almost all Wall Street firms have chosen to stay out of cryptos and even trash them publicly due to their highly speculative nature.
Enter Goldman Sachs
Unlike many of its financial counterparts, Goldman Sachs (GS) has chosen to listen to its clients’ desires to enter the crypto space. Goldman Sachs officially announced that a new trading operation is in the works to bring access to cryptocurrencies such as Bitcoin to the hands if its clients:
“In response to client interest in digital currencies we are exploring how best to serve them in this space.”
Future of Blockchain and Wall Street
This move by Goldman Sachs will pave the way for other large traditional institutions to include blockchain investments on their platforms. Investors that do not have the desire to make their own Coinbase or Bittrex accounts may soon be able to purchase crypto currencies on a platform with which they are familiar. This will welcome many new crypto investors to the game.