Goldman Sachs COO: Bitcoin Demand From Clients ‘Rising’

Goldman Sachs COO John Waldron mentioned the investment management firm would “continue to evaluate” and “engage on” digital assets for customers.

United States banking giant Goldman Sachs lately took the decision to start over its virtual assets trading desk. This has purportedly led to an amplified demand for virtual currencies among its user base.

As per a Reuters report, Waldron mentioned that the firm is exploring how to meet a swelling demand from customers looking to invest in crypto, especially Bitcoin. The COO mentioned that Goldman Sachs would “continue to evaluate” and “engage on” virtual currency for customers.

Furthermore, the global head of virtual currencies for Goldman Sachs’ global markets division, Matt McDermott mentioned recently that forty percent of Goldman investors have at least some exposures to virtual assets.

Goldman is also purportedly exploring the unveiling of a BTC ETF along with additional ways to custody virtual assets. Waldron mentioned that Coronavirus has been a noteworthy accelerant for online buying and would probably lead to an “explosion” in virtual assets payments.

Some in the digital asset’s domain are looking toward Goldman’s reentrance as a bearish indicator for Bitcoin. The investment management firm initially set up its digital asset trading desk at the peak of the 2017 bull run, subsequent to which the price of Bitcoin fell pointedly.