The financial services giant Goldman Sachs is offering its clients exposure to Ether (ETH) through Galaxy Digital’s Ethereum Fund.according to a new filing from the Securities and Exchange Commission.
Goldman Sachs clients interested in spot exposure to ETH have been offered space in Galaxy’s ETH fund. That strategy was highlighted in a Galaxy presentation on Tuesday, which listed Goldman as a beneficiary of introductory fees for referring clients to the fund.
Galaxy Digital is the cryptocurrency-focused financial services firm owned by billionaire Mike Novogratz. At the end of the fourth quarter of 2021, the company controlled $2.8 billion in assets under management (AUM).
It’s unclear how much Goldman’s clients bought, but the minimum investment per investor is $250,000. This is also indicated in the presentation Galaxy’s ETH fund has generated just over $50.5 million in revenue since its inception.
Independent asset management firm CAIS Capital also received placement fees for referring clients to Galaxy’s ETH fund.. The amount of Goldman’s introductory fee and CAIS finder’s fee was not disclosed.
This isn’t the first time Goldman has partnered with Galaxy Digital. last June, Goldman began offering Bitcoin (BTC) futures trading through CME Group Bitcoin Futures with Galaxy Digital as the liquidity provider.
Goldman employees are also becoming increasingly interested in the cryptocurrency space. On Feb. 25, Goldman executive Roger Bartlett announced that he was leaving the traditional finance company to join cryptocurrency exchange Coinbase.
He will lead global finance operations foras he said in a LinkedIn post “Take advantage of the possibilities that digital assets and their ecosystem offer“.
Lloyd Blankfein, senior chairman of Goldman Sachs, is also curious about the cryptocurrency space. on Monday tweetedHis astonishment that cryptocurrencies now “have no moment” in the face of extremely high inflation rates and frozen bank accounts around the world.
If you remain open-minded about crypto, but with the US dollar inflated and the stark reminder that governments can and will freeze accounts and block payments in certain circumstances, wouldn’t you think crypto would have a moment now? Haven’t seen the price yet…
— Lloyd Blankfein (@lloydblankfein) March 7, 2022
I’m open-minded about crypto, but with US dollar inflation and the harsh warning that governments can and will freeze accounts and block payments in certain circumstances, don’t you think crypto would have a moment now? I don’t see it in the price yet…
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