Goldman Sachs Eyes Bitcoin Trading if U.S. Regulations Loosen

Goldman Sachs CEO David Solomon has expressed interest in exploring cryptocurrency trading but emphasized that regulatory barriers currently prevent the investment giant from diving deeper into Bitcoin and Ethereum markets.

Speaking at the Reuters Next conference, Solomon suggested that the firm would reconsider its stance if U.S. regulations shift to allow greater participation.

The potential for a more favorable regulatory environment has sparked speculation, especially as President-elect Donald Trump has signaled support for the crypto industry. During his campaign, Trump proposed initiatives like creating a strategic Bitcoin reserve and eliminating policies tied to “Operation Choke Point 2.0,” which allegedly targeted high-risk industries, including some in the financial sector.

Despite the rising popularity of digital assets, Solomon remains cautious. He described Bitcoin as a speculative asset that has captured the public’s imagination but noted that Goldman Sachs’ ability to engage is restricted under current laws. When asked whether the bank might eventually trade cryptocurrencies like Bitcoin or Ethereum, Solomon affirmed that such decisions would depend entirely on future regulatory developments.

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This cautious approach comes as Bitcoin recently smashed the $100,000 mark, driven by a wave of enthusiasm in the market. Simultaneously, the crypto industry has seen a surge in applications for exchange-traded funds (ETFs), with recent approvals for Bitcoin and Ethereum ETFs fueling interest in other digital assets such as Solana and XRP.

Goldman Sachs has been experimenting with blockchain technologies, launching a crypto desk in 2021 and conducting tests on the Canton Network, an institutional-grade platform developed by Digital Asset Holdings. For now, Solomon remains focused on understanding how upcoming changes in regulation could open new opportunities for the firm in the evolving crypto landscape.

Alexander Stefanov