Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

<p>Goldman Sachs’ hedge fund clients are showing renewed interest in cryptocurrencies following the recent approval of spot Bitcoin ETF (exchange-traded fund) investment products.</p>
<p>“The recent ETF approval has triggered a resurgence of interest and activities from our clients,” said <a href="https://www.linkedin.com/in/max-minton-33a20a17/?originalSubdomain=hk" rel="noopener noreferrer nofollow"><span style="background-color: var(--bs-body-bg); color: var(--bs-body-color); font-family: var(--bs-body-font-family); font-size: var(--bs-body-font-size); font-weight: var(--bs-body-font-weight); text-align: var(--bs-body-text-align);">Max Minton</span></a><span style="background-color: var(--bs-body-bg); color: var(--bs-body-color); font-family: var(--bs-body-font-family); font-size: var(--bs-body-font-size); font-weight: var(--bs-body-font-weight); text-align: var(--bs-body-text-align);">, Asia Pacific head of digital assets, in an interview with Bloomberg News. “Many of our largest clients are active or exploring getting active in the space.”</span></p>
<h2 id="most-demand-is-for-btc-following-bitcoin-etf-approvals">Most Demand Is For BTC Following Bitcoin ETF Approvals</h2>
<p>A majority of the demand is for Bitcoin following the approval of Bitcoin ETFs managed by Wall Street giants, including BlackRock and Fidelity, since Jan. 11.</p>
<p>Minton said that demand for Ethereum might also rise if spot Ether ETFs are approved in May. Many analysts though consider that to be increasingly unlikely, with Bloomberg Intelligence recently slashing the odds of approval by May to 25%, from 35% previously.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">Goldman Sachs says clients such as hedge funds are showing renewed interest in crypto options trading this year amid the digital-asset market boom <a href="https://t.co/l13a8kGa8i" rel="noopener noreferrer nofollow">https://t.co/l13a8kGa8i</a></p>
 <p>— Bloomberg (@business) <a href="https://twitter.com/business/status/1771916449168208067?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 24, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Minton said a majority of the bank’s largest clients were either already active in the crypto industry or exploring it.</p>
<p>“It was a quieter year last year, but we’ve seen a pickup in interest from clients in onboarding, pipeline, and volume since the start of the year,” he said.</p>
<p>The investment bank unveiled a crypto trading desk in 2021, through which it offers cash-settled Bitcoin and Ether options trading. It also supports trading for Bitcoin and Ether futures listed on the CME.</p>
<p>The changing behavior of Goldman’s hedge fund clients comes as Wall Street increases its share of the cryptocurrency market.</p>
<p>With the Grayscale Bitcoin Trust posting steady outflows, analysts <a href="https://insidebitcoins.com/news/blackrocks-bitcoin-etf-on-track-to-surpass-grayscales-gbtc-in-as-little-as-two-weeks" rel="noopener noreferrer nofollow">believe</a> BlackRock is on track to being the largest institutional holder of Bitcoin within two weeks.</p>
<h4>Also Read:</h4>
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 <li><a href="https://insidebitcoins.com/news/bitcoin-price-prediction-btc-pumps-5-as-blackrock-closes-on-grayscale-and-this-green-ico-skyrockets-towards-9-million" rel="noopener noreferrer nofollow">Bitcoin Price Prediction: BTC Pumps 5% As BlackRock Closes On Grayscale And This Green ICO Skyrockets Towards $9 Million</a></li>
 <li><a href="https://insidebitcoins.com/news/sec-probes-ethereum-status-as-bloomberg-slashes-odds-of-ethereum-etf-approval-in-may" rel="noopener noreferrer nofollow">SEC Probes Ethereum Status As Bloomberg Slashes Odds Of Ethereum ETF Approval In May</a></li>
 <li><a href="https://insidebitcoins.com/news/spot-ether-etfs-wont-be-approved-in-may-bloomberg-analyst-says" rel="noopener noreferrer nofollow">Spot Ether ETFs Won’t Be Approved In May, Bloomberg Analyst Says</a></li>
</ul>
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Goldman Sachs Says Hedge Fund Clients Flock to Crypto After Bitcoin ETF Approval

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