#GoldmanSachs #BlockchainAdoption #DigitalAssets #BitcoinETF #Tokenization #BlockchainTechnology #CryptoMarket #InstitutionalInvestment
The future of digital assets seems promising, as predicted by Goldman Sachs. The bank’s head of digital assets, Matthew McDermott, anticipates institutional adoption and regulation of blockchains to mature digital assets by 2024. McDermott cites businesses’ experiences of blockchain efficiency as a trigger for them to scale their operations to maximize commercial opportunities. He believes that as blockchain impacts are realized at scale, banks will enhance liquidity in the markets for tokenized assets.
McDermott further speculates that traditional assets will be increasingly tokenized ahead of their exotic counterparts. He says that less typical assets stand to gain the most in terms of liquidity, pricing visibility, and transparency. William Quigley, co-founder of collectibles-focused blockchain WAX, shares similar sentiments, predicting that the tokenization industry will find its niche by 2024 before maturing around 2030. While traditional financial institutions continue to adopt blockchain technologies, the markets await the introduction of a Bitcoin exchange-traded fund. According to McDermott, the approval of Bitcoin ETFs could lead to investments by pension funds and insurers, significantly enhancing Bitcoin’s liquidity.
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