Crypto Biz: Goldman Sachs tip-toes into ETH, Mar. 4-10

cointelegraph.com:

Wall Street’s embrace of digital assets is showing no signs of slowing down. In fact, they don’t even need to tell us about it as the proof is in the fine print. This week, a United States Securities and Exchange Commission (SEC) filing revealed that multinational investment bank Goldman Sachs has been quietly offering clients exposure to Ether (ETH) through Galaxy Digital, a crypto-focused financial services provider headed by billionaire Mike Novogratz. 

Of course, this isn’t the first time Goldman has worked with Galaxy Digital to offer clients a gateway to digital assets. In June 2021, the investment giant began trading a Bitcoin (BTC) futures project in collaboration with Galaxy Digital. Like other financial services giants, Goldman Sachs sees the writing on the wall and realizes that crypto is an emerging asset class with long-term potential. Either that or its clients really want to invest in crypto.

This week’s Crypto Biz newsletter features classic storylines about a major Wall Street bank expanding its crypto offerings and venture capital continuing to pour hundreds of millions of dollars into blockchain startups. We also take a deeper dive into Binance’s new crypto-to-fiat gateway.

According to regulatory documents filed with the SEC, Goldman Sachs has already begun offering ETH investments to its clients through Galaxy Digital, possibly opening the door to wider institutional adoption of digital assets. The Form D filing, which was submitted by Galaxy Digital, listed Goldman Sachs as a recipient of introduction fees for referring clients to the Galaxy ETH Fund. As per the filing, Goldman is accepting a “minimum investment” of $250,000 per client for exposure to the investment product. Interestingly, the filing