One of the biggest investment banks in the world, Goldman Sachs, is offering clients an ether fund through Galaxy Digital. Galaxy issued this fund 1 year ago, and just now it has appeared on the Goldmans list. So far, with 250.000 dollars minimum investment, the fund has sold over 50 million dollars’ worth of fund to 28 clients. It is not the first tie-up with Galaxy Digital, as they have agreed to funnel liquidity to Goldman Sachs bitcoin futures. Goldman’s employees are more and more keen on the crypto space. One of the executives even announced that he is leaving the company to settle at Coinbase crypto exchange.

Galaxy Digital in billionaire Mike Novogratz’s crypto-focused financial service provider. It has controlled 2,8 billion dollars assets as the end of 2021 fourth quarter. The filing for cooperation with Goldman Sachs said, that the company will receive fees for every client they introduce to their fund.

Galaxy also offers a bitcoin fund to another big investment bank, Morgan Stanley, however they have not decided yet for the ether funds.

Movement of Ethereum in 5 years. (Source: Trading Economics)

Sources:

https://tradingeconomics.com/ethusd:cur

https://www.theblockcrypto.com/linked/136950/goldman-sachs-receives-fee-to-connect-clients-to-galaxy-digitals-eth-fund

https://finance.yahoo.com/news/goldman-sachs-offering-eth-fund-212128113.html

https://cointelegraph.com/news/goldman-sachs-is-hooking-up-clients-with-galaxy-digital-s-eth-fund

https://www.coindesk.com/business/2022/03/08/goldman-sachs-offering-eth-fund-to-clients-through-galaxy-digital/