Ethereum is a smart contract platform that enables developers to build tokens and decentralized applications (dapps). ETH is the native currency for the Ethereum platform and also works as the transaction fees to miners on the Ethereum network. Ethereum is the pioneer for blockchain based smart contracts.
GALA is designed to power the Gala Games ecosystem to support gaming re-imagined to benefit creators and players, alike.
The renowned financial services institution connects its customers interested in Ethereum a decentralized open-source blockchain with smart contracts functionality. with the Galaxy Digital background of that cryptocurrency.
El gigante de Wall Street Goldman Sachs has been offering its clients exposure to the second largest cryptocurrency, Ethereum through one of the investment funds of Galaxy Digital digital technologies are these electronic tools that have the ability to generate, store or even process data. .
Documents filed with the U.S. Securities and Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission (SEC), noted byThe Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain.The latest research shows that the bank has been connecting customers interested in cryptocurrencies with theEthereum Fund de Galaxy . The strategy was made evident in a presentation to the regulator in whichGoldman is listed as receiving introductory fees for referring clients to the fund.
A modified presentation of the Form D de Galaxy Digital indica que Goldman Sachs receives an introductory fee for sending clients to the Galaxy Institutional Ethereum Fund . (Form D is an SEC filing form used to file a notice of an exempt securities offering.)
“ Goldman Sachs & Co. LLC will receive an introductory fee with respect to certain clients introduced to the Issuer. “, says the presentation.
The document is dated March 8, 2022. It is unclear exactly how much customers have purchased from Goldman The minimum investment per investor is USD 250,000.
Goldman connects clients interested in ETH with Galaxy
The renowned bank is not the only one receiving fees for referring customers to the ETH fund of Galaxy . According to the recent document, the independent wealth management firm CAIS Capital capital is most commonly defined as the large sum of money you would use to invest. also has a similar placement fee arrangement with Galaxy . The amount of the introduction fee for Goldman and the placement fee of CAIS was not disclosed.
Founded by billionaire Mike Novogratz, Galaxy Digital is a cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. financial services provider. By the end of the fourth quarter, the firm reported USD $2.8 billion in assets under management (AUM).
Galaxy launched its Ethereum in February last year. The product, which invests directly in the cryptocurrency, is designed for institutional clients seeking spot a contract or transaction buying or selling a cryptocurrency for immediate settlement, or payment and delivery, of the cryptocurrency on the market. exposure to ETH. To date, the fund has sold more than $50 million to 28 clients, SEC documents show.
This is not the first alliance between Novogratz’s firm and the banking giant. Last June, Goldman began offering futures a futures contract is a standardized legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. trading of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. through products derived from Bitcoin de CME Group , with Galaxy Digital providing liquidity.
The bank has been interested in the crypto market an area or arena, online or offline, in which commercial dealings are conducted. and has even shared some bullish predictions. In January, co-head of global foreign exchange and emerging markets strategy Zach Pandl projected a price ofUSD $100.000 para Bitcoin long-term. A previous report by Goldman había pronosticado que Ether the form of payment used in the operation of the distribution application platform, Ethereum. podría alcanzar los 8.000 dólares by the end of 2021.
It should be noted that Galaxy ofrece un fondo de Bitcoin to U.S. bank customers Morgan Stanley in a similar agreement to that of Goldman as shown by other submissions reviewed by CoinDesk .
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Article by Hannah Estefania Perez / DiarioBitcoin
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