Goldman Sachs CEO's Views on Bitcoin and Ether

David Solomon, CEO of Goldman Sachs, stated his firm would consider entering the bitcoin and ether markets if U.S. regulatory changes occur.

During a Reuters Next conference, Solomon responded to a question about Goldman Sachs' plans for "spot bitcoin trading." He explained that current regulations limit the firm's ability to engage with cryptocurrencies, noting that evolving technologies are gaining attention amid expectations for regulatory frameworks to change.

Solomon remarked, "If the regulatory structure changes, we would evaluate that, but at the moment we're not permitted to," when asked about making markets in Bitcoin or Ethereum. This comes amid potential shifts in crypto regulations, especially with the promises made by U.S. President-elect Donald Trump regarding the creation of a strategic bitcoin reserve and the end of "Operation Choke Point 2.0."

The latter is a reference to a previous initiative targeting high-risk industries, impacting the availability of banking services.

Since November, the price of bitcoin has surged beyond $100,000, and numerous firms have submitted applications for crypto exchange-traded funds (ETFs), following the U.S. Securities and Exchange Commission's recent approvals.

Goldman Sachs' Crypto Endeavors

Solomon reiterated his stance that bitcoin remains a "speculative asset," while acknowledging the significant interest in the asset class. Goldman Sachs has been actively involved in the crypto space, launching a crypto desk in 2021 and conducting tests on the Canton Network, which was developed for institutional assets. Additional reporting indicates Goldman Sachs has noticed a renewed interest in crypto products from hedge fund clients.