The head of digital investments at Goldman Sachs said it is ready to offer bitcoin mutual funds, among other investments “more like the underlying asset class that are traded 24/7 worldwide.”
Some crypto funds come with an upper limit. For example, the Galaxy bitcoin fund only allows for quarterly buy/sell transactions. However, customers can cash out their Galaxy corporate fund on a weekly basis.
Goldman Sachs is currently seeking regulatory approval from the US. The Securities and Exchange Commission SEC and the New York Department of Financial Services (NYDFS) released a statement.
In his statement: “We are still in the early stages of this ecosystem; No one knows exactly how it will develop or what shape it will take. But I think it’s pretty safe to assume it will be a part of our future.
“Goldman Sachs’ offer could trigger a domino effect among traditional financial services firms and lead them to add similarly priced products to their offerings in the future.
