Goldman Sachs is close to offering bitcoin and other digital assets to its wealth management clients – CNBC

Goldman Sachs is close to offering bitcoin and other digital assets to its wealth management clients – CNBC

Goldman Sachs is close to offering its first investment vehicles for bitcoin and other digital assets to clients of its private wealth management group, CNBC has learned exclusively.

The bank aims to begin offering investments in the emerging asset class in the second quarter, according to Mary Rich, who was recently named global head of digital assets for Goldman’s private wealth management division. Her promotion was scheduled to be announced Wednesday in an internal company memo seen by CNBC.

We are working closely with teams across the firm to explore ways to offer thoughtful and appropriate access to the ecosystem for private wealth clients, and that is something we expect to offer in the near term,” Rich said in an interview this week.

Goldman is looking at ultimately offering a “full spectrum” of investments in bitcoin and digital assets, “whether that’s through the physical bitcoin, derivatives or traditional investment vehicles,” she said.

The move means that soon, clients of two of the world’s preeminent investment banks – Goldman and Morgan Stanley – will have access to a nascent asset class that has intrigued billionaires and digital currency believers alike. Earlier this month, Morgan Stanley told its financial advisors that they could place clients into bitcoin funds starting in April, CNBC was first to report.

Mary Rich, named global head of Digital Assets for Goldman’s private wealth management division

Source: Goldman Sachs