Goldman Sachs looking to spin out its digital assets platform

Goldman Sachs is exploring options to spin out its technology platform housed under its digital assets business, a source familiar with the matter said on Monday, reports Reuters.

The bank's digital assets business, since its inception, has aided the adoption of blockchain technology and crypto-linked trading products.

Earlier this year, the US Securities and Exchange Commission approved spot bitcoin exchange-traded funds. Bitcoin, the world's largest cryptocurrency, has more than doubled its value so far in 2024.