Goldman Sachs Maintains Crypto Skepticism Amid Wall Street's ETF Embrace

Despite the firm's public caution, indications of engagement with the crypto ecosystem emerge.

Goldman Sachs remains steadfast in its skepticism towards cryptocurrencies, emphasizing the difficulty in valuing assets that lack earnings, dividends, or cash flow.
Despite the firm's public stance, there are indications that Goldman Sachs is engaging with the crypto ecosystem, particularly in roles related to the infrastructure of Bitcoin ETFs.
The approval of Bitcoin ETFs by the SEC has led to significant interest and investment, with leading funds amassing billions in assets under management.
Other major financial institutions are exploring and expanding their crypto offerings, highlighting a divide in Wall Street's approach to digital assets.
Goldman Sachs' chief investment officer, Sharmin Mossavar-Rahmani, criticizes the crypto industry for its lack of democratization, despite claims to the contrary.