Marking a significant shift in the financial sector, Goldman Sachs is set to join the Bitcoin ETF race, signifying the growing mainstream acceptance of cryptocurrencies.
The involvement of major banks like Goldman Sachs and JPMorgan, once skeptical of Bitcoin, indicates a significant change in the perception of cryptocurrencies in the traditional financial world.
Reflecting insights from a significant episode of Goldman Sachs’ Asset Allocation Outlook: The Case for Greater Portfolio Diversification in 2024, published in late 2023, Goldman Sachs is now initiating a substantial entry into the Bitcoin ETF race as of early 2024.
This strategic move is a response to the evolving market dynamics, particularly highlighted by JPMorgan’s earlier partnership with BlackRock to serve as an “Authorized Participant” (AP) in the Bitcoin ETF market.
In a recent tweet, I emphasized Goldman Sachs’ new role, underscoring their responsibility in creating and redeeming Bitcoin ETF shares. This is

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