We see people with no experience in market analysis criticize the future of cryptocurrency while banks like Goldman Sachs start preparing their own custody for crypto funds. Who would you trust more?
Bank custody is when a bank holds the securities on behalf of a fund, reducing risk for clients seeking to guard against the threat of losing their investments to rogue attacks. The only reason Goldman Sachs are considering something like this is because the demand is increasing! There are massive amounts of hedge funds out there looking for bank custody for their millions in crypto, what does this tell you? You may find yourself wondering if you would sooner listen to the public or a hedge fund. This is just another step in the right direction. Navigate news removing all the crap and you will see the true value of crypto is still growing.
A formal offering from an institution like Goldman Sachs would provide a credible backing for crypto funds and could pave the way for more investors to bet on the assets. Having a custody operation in place could also lead to other ventures including prime-brokerage services. Trust me when all these investors who are currently afraid of crypto’s volatility get involved the market is going to change drastically. That is what everyone creating ETF’s are looking for reduced volatility.