The Block, a data firm, is giving Goldman Sachs’ hedge fund clients crypto research

Institutional trading clients of investment bank Goldman Sachs will now be receiving in-depth crypto research reports from The Block, a well-known data firm and crypto news outlet. Goldman Sachs hedge fund and institutional trading clients started to receive the reports from Thursday, October 28th, via the digital platform of the investment bank – Marquee. The first report included an overview of DeFi protocols operating on the Ethereum blockchain.

The bank released an official statement regarding the matter, which said that the Digital Assets team of the bank aims to provide clients with content and research related to relevant digital assets. While The Block’s readers can access these reports after subscribing to the data firm, Goldman Sachs’ clients will have free access to them through their respective Marquee accounts.

The move comes at a time when more and more investors are looking for accurate and reliable information about cryptocurrencies and decentralized finance (DeFi) protocols. Goldman Sachs isn’t alone when it comes to allowing access to high-quality crypto information to its clients. Other investment banks such as Morgan Stanley and Bank of America are also doing similar things, with both banks announcing dedicated crypto research desks earlier in 2021.

Apart from providing crypto research and data to clients, Goldman Sachs also made wholesale changes to its division dealing with digital assets in 2020. In May 2021, the bank also commenced the trade of bitcoin-linked instruments. While the spokesperson of Goldman Sachs confirmed this latest move, there were no further comments to elaborate on it. As of now, the bank’s Marquee platform boasts of around 50,000 active users per month.