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Goldman Sachs reports a resurgence in interest in cryptocurrency-related products among its hedge fund clients, fueled by the recent approval of spot bitcoin exchange-traded funds (ETFs) in the United States. Max Minton, Asia Pacific head of digital assets at Goldman Sachs, highlights the growing activity of large clients in the crypto space, with a focus on bitcoin-related products. However, Minton notes that interest may shift towards spot ether ETFs if they receive approval in the U.S.
In addition to exploring cryptocurrency investments, Goldman Sachs is also considering investing in crypto bankruptcy claims, according to Mathew McDermott, the global head of digital assets at the firm. McDermott emphasizes the significant changes observed in the crypto market this year, citing increased supply, volumes, and price action compared to the previous year. Despite recent outflows from spot bitcoin ETFs, the overall volume of these ETFs has risen substantially, reaching a total of $164 billion as of March 22.
