"Historically, Fed taper has been a headwind for bitcoin," one fund manager said.
The U.S. bank’s prime brokerage division is offering services in crypto-linked ETPs to some of its European hedge fund clients.
A Goldman Sachs survey of family offices found that 15% already invest in cryptocurrencies and another 45% are interested.
While bullish on ether, Goldman denied cryptos' superiority to gold when it came to taking the top spot among safe-haven assets.
“We firmly think this will change the nature of the intraday marketplace,” said Mathew McDermott, head of digital assets for Goldman.
Mike Novogratz’s merchant bank is ramping up its involvement with Wall Street's biggest names.
The investment bank is encouraged by Silvergate's growth potential and network of customers but concerned about competition and regulatory uncertainty.
Bitcoin has quadrupled in price since the last time Goldman's consumer division declared bitcoin not "suitable" for clients.
In March, the investment bank relaunched its cryptocurrency trading desk after a three-year hiatus.
The round was led by Greenspring Associates and included Goldman Sachs.
The analyst noted both bitcoin and copper behave as “risk-on” inflation hedges, while gold is viewed as a haven.
The investment banking giant’s Mathew McDermott said the company would continue to expand its offerings in the cryptocurrency space to meet surging demand.