Goldman Sachs set to launch tokenized products following BlackRock success


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  • Goldman
    Sachs
    allegedly
    revealed
    its
    plans
    to
    launch
    three
    tokenized
    funds
    by
    2025,
    according
    to
    Fortune.

  • Goldman’s
    digital
    asset
    global
    head revealed
    funds
    will
    be
    launched
    in
    the
    US
    and
    European
    regions.

  • BlackRock
    tokenized
    fund
    BUILD
    held
    over
    $500
    million
    in
    AUM
    as
    of
    Tuesday.

A
Fortune
report
on
Wednesday
revealed
that
Goldman
Sachs
is
set
to
launch
three
new
tokenized
products
later
this
year.
The
move
follows
BlackRock’s
successful
tokenized
fund
BUILD,
which
has
accumulated
about
$502
million
since
launching
in
March.


Goldman
Sachs
joins
race
for
tokenized
product
investment

Investment
firm
Goldman
Sachs
has
joined
the
list
of
companies
interested
in
launching
tokenized
funds.
The
150-year-old
firm
is
reported
to
have
revealed
plans
to
launch
three
tokenized
products
later
in
the
year. 

According
to
Fortune,
the
bank’s
digital
asset
global
head,
Mathew
McDermott,
disclosed
in
an
interview
that
the
company
seeks
to
advance
investments
in
crypto
products.

The
company
now
seeks
to
delve
into
real-world
assets
tokenization
and
plans
to
launch
its
first
product
in
the
US.
Not
much
is
said
about
other
regions
where
the
tokenized
funds
will
operate,
but
it
will
be
widely
between
the
US
and
European
regions.

McDermott
allegedly
described
the
launch
of
the
spot

Bitcoin

ETFs
as
a
“renewed
momentum
in
crypto,”
but
shared
that
this
view
is
not
commonly
held
across
the
company.

“The
nice
thing
is,
about
an
institution
of
our
size,
there
are
differing
views,”
said
McDermott. 

McDermott’s
view
contrasts
with
that
of
his
colleague
Sharmin
Mossavar-Rahmani,
chief
investment
officer
for
Goldman
Sachs
Wealth
Management.
In
an
interview
with
the
Wall
Street
Journal
in
April,
Sharmin
said
she
did
not
view
crypto
as
an
investment
asset
class.

Goldman
Sachs’
latest
move
follows
BlackRock
and
Franklin
Templeton’s
tokenized
funds,
launched
earlier
in
the
year.

The
BlackRock
USD
Institutional
Digital

Liquidity

(BUIDL),
launched
in
March,
attained
a
remarkable
feat
on
Tuesday
after
surpassing
the
$500
million
mark
in
assets
under
Management. 

The
milestone
places
BlackRock’s
BUILD
as
the
largest
blockchain-based
tokenized
funds
by
market
cap,
ahead
of
Franklin
Templeton’s
FOXX
token.

With
the
success
of
BlackRock’s
BUILD
fund,
the
adoption
of
blockchain-based
real-world
assets
in
the
financial
industry
could
grow
as
more
traditional
financial
institutions
launch
tokenized
assets.