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Goldman Sachs has begun giving its institutional buying and selling purchasers analysis reviews from crypto information and knowledge agency The Block.
Hedge funds and different purchasers started receiving the reviews on Thursday through the funding financial institution’s Marquee digital platform, based on an e mail obtained by CNBC. The primary report obtainable to Goldman purchasers was an summary of decentralized finance (DeFi) protocols on the Ethereum community.
“In an effort to supply related digital property content material and analysis, GS Digital Property is now offering unique entry to pick out reviews from The Block Analysis,” the financial institution mentioned. “Whereas these sometimes require a paid subscription, purchasers can entry them without spending a dime with a Marquee account.”
The transfer by Goldman, a premier international funding financial institution, is an indication of elevated demand from massive traders for info and evaluation about cryptocurrencies and associated fields like DeFi. Bank of America and Morgan Stanley have every introduced new crypto research desks this yr, whereas Goldman revamped its digital assets division final yr and commenced trading bitcoin-linked devices in Might.
A Goldman spokesperson confirmed the authenticity of the consumer e mail and declined to remark additional.
The funding financial institution has mentioned that its Marquee platform, which permits purchasers to entry knowledge and analytics with out utilizing conventional strategies like calling salespeople, has 50,000 lively month-to-month customers.
The dizzying ascent of bitcoin and different cryptocurrencies lately has been accompanied by the rise of latest information shops like The Block and CoinDesk and expanded hiring by established shops together with Bloomberg Information.
“Giant monetary establishments and expertise corporations have leveraged The Block’s suite of analysis and knowledge providers to extra deeply perceive the fast-growing marketplace for digital property for a while now,” Michael McCaffrey, CEO of The Block, mentioned in an e mail.
