Goldman Sachs will provide its clients access to the Ethereum Fund through Galaxy Digital’s institutional Ethereum Fund. This is according to regulatory documents filed with the US Securities and Exchange Commission (SEC).
The SEC also demonstrated that it listed Goldman Sachs as a beneficiary that would require clients to pay for access to the Ethereum Fund. It was further mentioned that Goldman Sachs would receive an introductory fee for referring clients to this strategy. According to a recent SEC filing with Galaxy’s Institutional Ethereum Fund.
With minimal funding and a আকার 250,000 investment size, the 12-month-old fund generated total sales of more than 50 million for 28 buyers, according to the filing. If there is any ambiguity about the flow, which is related to Goldman Sachs because the investment bank was not involved at the time the fund was started.
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The main way out of this alliance
Galaxy Digital Holdings Limited is a US-run crypto-based financial provider founded by Mike Novogratz. Galaxy Digital is currently responsible for providing liquidity to Goldman’s bitcoin futures trading. This digital blockchain investment company has similar arrangements with Morgan Stanley clients.
A year ago, Galaxy Digital announced that it would launch a suite of Ethereum funds, which includes this special institutional offer.
In addition, CAIS Capital LLC, an independent asset management company, was listed as the recipient of a “placement fee” which is a referral fee for clients to jump into Galaxy’s ETH fund. CAIS was also individually involved with a different Galaxy-backed Ethereum fund, a filing of which was reported March 8.
Goldman Sachs has reopened the Crypto Trading Desk between its Global Currency and Emerging Markets division three years apart. Goldman’s strategy with the galaxy will reveal investors’ etherium as a physical asset and not a derivative-based product like the futures contract.
Galaxy Digital has continued to expand through more strategic acquisitions, such as tie-ups with digital-asset management firms Vision Hill Group Inc. and Bitgo last year. Galaxy Digital has served as a platform that brings together financial institutions and facilitates direct crypto investing.
Banks are a regulated sector that cannot immediately pump money into the cryptocurrency sector, which is why companies like Galaxy Digital are effective because they have managed to fill the existing gaps as mentioned above.
In addition, Goldman Sachs continues to show interest in cryptocurrency as it continues to evolve and evolve. Roger Bartlett, executive director of Goldman Sachs, reportedly left the company in February and joined the crypto exchange Coinbase.
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