Goldman Sachs set to launch tokenized products following BlackRock success

• 
  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.