Banking giant Goldman Sachs is reportedly looking to offer crypto investment services to its wealthy clients in the coming months.

According to a new report Per CNBC, the investment bank soon plans to add support for Bitcoin (BTC) and a “full spectrum” of other crypto assets due to high demand from its high-net-worth clients.

Says Mary Rich, the newly appointed head of digital assets at Goldman Sachs’ private wealth management division,

“We are working closely with teams across the company to explore ways to offer thoughtful and appropriate access to the ecosystem for private equity clients, and that is something we hope to offer in the near term…

There is a contingent of customers looking for [cryptocurrencies] as a hedge against inflation, and the macroeconomic context of the last year has undoubtedly influenced this.

There is also a large contingent of customers who feel that we are sitting at the dawn of a new Internet in some way and are looking for ways to participate in this space.”

Goldman Sachs Private Wealth Management is aimed at wealthy clients with a minimum of $25 million to invest.

The bank is currently in the midst of gathering the necessary permits from state and federal regulatory agencies, such as the US Securities and Exchange Commission (SEC) and the New York Department of Financial Services, to legally offer crypto services, sources with knowledge of the matter told CNBC.

If approved, Goldman Sachs would join US banking titan Morgan Stanley in offering BTC investment services to consumers.

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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.

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