Goldman Sachs planned to offer Ethereum fund to the clients with the help of Galaxy Digital’s Institutional Ethereum Fund.
Goldman Sachs Group Inc is an American multinational investment bank and financial services company, which has its headquarter in New York City. It was founded in 1869, so we can understand the expertise of this company in the traditional and modern financial system.
Reports noted that the filing with US securities and exchange commission (SEC) confirmed that Institutional Ethereum Fund of Galaxy Digital will work as a medium for the clients of Goodman Sachs to access Ethereum Funds.
Details are showing that Goldman Sachs will act as the beneficiary for the charges which are required to be paid for allowing the customers to have access to the Ethereum Fund. In this way, Goldman Sachs will take a better advantage by referring the clients/investors to the Galaxy’s institutional Ethereum Fund, as an introduction fee.
In the last 12 months, the fund generated around $50 million in gross sales for 28 clients, in which the minimum buy size was $250,000 worth Ethereum funds.
Galaxy Digital Holdings Ltd is a US-based financial services provider company, which was founded by Mike Novogratz. At present, Galaxy Digital is providing liquidity to the Bitcoin futures Trade of Goldman Sachs.
These things are showing that Galaxy Digital is moving toward a better goal with a better systematic procedure to create better financial products for its clients to create a better future for the company.
It is interesting to note that after 3 years, Goldman Sachs re-launched its crypto trading desk within its Global Currencies and Emerging Markets division. These things are showing the potential of crypto-inclined financial products.
This latest move of Goldman Sachs with Galaxy Digital will allow people to invest in real Ethereum assets instead of futures smart contract-based assets.
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