Reading time: ~2 m
Cryptocurrency Ethereum added 2% in yesterday’s trading, showing the highest result in the ranking of the five largest digital assets. The reason for the increased interest in the first altcoin in terms of capitalization was the publication of US SEC documents.
Observers found in the reports of the American regulator a notice of cooperation between Goldman Sachs and the Galaxy Digital Ethereum Fund.
The largest investment bank buys shares from Mike Novogratz’s company, backed by real ETH cryptocurrency, for the benefit of its own institutional clients. This type of proxy investment in Ethereum is allowed by the US SEC for investors willing to invest at least $250,000 per share.
The regulator’s documents do not disclose the amount of investments of Goldman Sachs clients. At the moment, Galaxy Digital has managed to receive money from 28 companies that have spent about $50 million on ETH. However, the very fact of participation in the agreement of the largest US bank indicates a change in the mood of large investors.
Judging by the reports of CoinShares, which monitor crypto funds, there was disappointment in the ranks of institutions throughout the quarter with the actions of Ethereum developers. The constant delay in the launch of ETH2.0 has led to a constant outflow of funds from funds focused on the largest altcoin.
#Goldman #Sachs #returns #investors #Ethereum
