{"id":25517,"date":"2024-05-30T14:01:53","date_gmt":"2024-05-30T14:01:53","guid":{"rendered":"https:\/\/bitcoins-101.com\/2024\/05\/30\/goldman-sachs-bitcoin-etfs-are-an-astonishing-success\/"},"modified":"2024-05-30T14:01:53","modified_gmt":"2024-05-30T14:01:53","slug":"goldman-sachs-bitcoin-etfs-are-an-astonishing-success","status":"publish","type":"post","link":"https:\/\/bitcoins-101.com\/2024\/05\/30\/goldman-sachs-bitcoin-etfs-are-an-astonishing-success\/","title":{"rendered":"Goldman Sachs: Bitcoin ETFs Are an &#8216;Astonishing Success&#8217;"},"content":{"rendered":"<p>Goldman Sachs is striking an increasingly positive tone on Bitcoin calling the new <a href=\"https:\/\/bitcoinmagazine.com\/tags\/bitcoin-etf\">spot Bitcoin ETFs<\/a> an &#8220;astonishing success&#8221; after years of scepticism.<\/p>\n<p>JUST IN: \ud83c\uddfa\ud83c\uddf8 Goldman Sachs says the <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> ETF approval was a &#8220;big psychological turning point.&#8221;<\/p>\n<p>It has been an \u201castonishing success.\u201d \ud83d\ude80 <a href=\"https:\/\/t.co\/fcuhXMyAah\">pic.twitter.com\/fcuhXMyAah<\/a><\/p>\n<p>\u2014 Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1796166671222149616?ref_src=twsrc%5Etfw\">May 30, 2024<\/a><\/p>\n<p>At the Consensus 2024 conference hosted by CoinDesk, Goldman&#8217;s global head of digital assets, Mathew McDermott, <a href=\"https:\/\/www.forbes.com\/sites\/digital-assets\/2024\/05\/30\/goldman-sachs-issues-astonishing-bitcoin-and-ethereum-etf-prediction-after-price-turning-point\/?sh=5cf815c3327e\">said<\/a> the SEC&#8217;s <a href=\"https:\/\/bitcoinmagazine.com\/markets\/approved-spot-bitcoin-etfs-to-trade-on-us-markets-in-historic-milestone\">approval of spot Bitcoin ETFs <\/a>earlier this year marked a &#8220;big psychological turning point&#8221; for the industry.<\/p>\n<p>&#8220;The Bitcoin ETF obviously has been an astonishing success,&#8221; McDermott said, signalling a change in Goldman&#8217;s stance after dismissing the idea of Bitcoin ETFs earlier.\u00a0<\/p>\n<p>The bank has since joined the action, acting as an authorized participant for BlackRock&#8217;s IBIT bitcoin ETF, which launched in January. That ETF <a href=\"https:\/\/x.com\/BitcoinMagazine\/status\/1796120216780333409\">recently<\/a> became the world&#8217;s largest, surpassing $20 billion in assets faster than any other ETF in history.<\/p>\n<p>McDermott&#8217;s bullish comments come after the massive inflows into US spot bitcoin ETFs, suggesting growing Wall Street acceptance.\u00a0<\/p>\n<p>The warm embrace of Bitcoin ETFs follows years of scepticism from legacy finance giants like Goldman. But the staggering demand has converted many former naysayers.<\/p>\n<p>McDermott cited surging interest from both retail and institutional investors in these regulated investment vehicles. Giants like BlackRock and Fidelity now operate spot Bitcoin ETFs managing billions in assets.<\/p>\n<p>                        <a href=\"https:\/\/bm.b.tc\/unchained-bmag-dot-com\"><\/a><br \/>\n                        Image Subtext: <em>Click the image to learn more.<\/em><\/p>\n<p>Clearly, these products have opened the floodgates for Wall Street money to access Bitcoin. And Goldman itself is expanding offerings through derivatives, research and more.<\/p>\n<p>The comments signal legacy finance is increasingly onboarding to Bitcoin. With tradition finance institutions like Goldman and BlackRock now praising Bitcoin ETFs, wider adoption seems inevitable.<\/p>","protected":false},"excerpt":{"rendered":"<p>Goldman Sachs is striking an increasingly positive tone on Bitcoin calling the new spot Bitcoin ETFs an &#8220;astonishing success&#8221; after years of scepticism. JUST IN: \ud83c\uddfa\ud83c\uddf8 Goldman Sachs says the #Bitcoin ETF approval was a &#8220;big psychological turning point.&#8221; It has been an \u201castonishing success.\u201d \ud83d\ude80 pic.twitter.com\/fcuhXMyAah \u2014 Bitcoin Magazine (@BitcoinMagazine) May 30, 2024 At [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25517","post","type-post","status-publish","format-standard","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/25517"}],"collection":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/comments?post=25517"}],"version-history":[{"count":0,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/25517\/revisions"}],"wp:attachment":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/media?parent=25517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/categories?post=25517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/tags?post=25517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}