NEY YORK: Goldman Sachs Group Inc is seeing substantial demand for digital assets from institutions as it works to restart its cryptocurrency trading desk.
In a survey of nearly 300 clients by the firm, 40% currently have exposure to crypto, according to Matt McDermott, global head of digital assets for Goldman Sachs Global Markets Division, speaking on a podcast.
The situation is different now compared with the 2017 bitcoin bubble due to “huge” institutional demand across different industry types and from private banking clients, he said.
McDermott confirmed plans reported last week for Goldman to restart its crypto trading desk, which he said will be “quite narrow initially, ” with a focus on areas such as CME Group Inc futures.
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