After a massive bloodbath last week, Yesterday Bitcoin dropped over 5% in a sharp sell-off that triggered more than $250 million in liquidations, its biggest wipeout this month, before recovering slightly. Sentiment across the crypto market weakened as Japan’s rising bond yields and disappointing U.S. manufacturing data put pressure on global risk assets.
Meanwhile, Goldman Sachs is preparing to buy Innovator Capital Management in a deal valued at around $2 billion, marking one of the bank’s most significant steps toward expanding its role in the fast-growing ETF landscape. While the announcement does not directly highlight crypto, the acquisition places Goldman in a stronger position as demand for Bitcoin-linked investment products continues to surge.
Growing Interest in Crypto-Connected ETFs
Innovator is known for its defined-outcome ETFs, including funds that provide structured exposure to Bitcoin. One of its standout products gives investors a way to participate in a portion of Bitcoin’s gains while cushioning potential losses. This style of risk-managed exposure has gained traction among traditional investors who want some participation in crypto without diving fully into volatility.
Goldman already plays a key role behind the scenes of major spot Bitcoin ETFs as an institution that supports their daily trading operations. Bringing Innovator under its umbrella gives Goldman greater control over ETF creation and distribution at a time when Bitcoin ETFs are becoming some of the most popular products in traditional finance.
A Boost for Adoption, But Some Worry About Crypto’s Identity
The deal is being viewed as another sign that large financial institutions are becoming more comfortable with digital-asset-related products. Many see this as a positive shift that strengthens the credibility of the crypto market, especially as more investors seek regulated ways to access Bitcoin.
However, some industry observers caution that Wall Street’s growing presence risks changing what crypto was originally meant to represent. Bitcoin was created as an alternative to traditional finance, not just another investment instrument managed by major banks. They worry that as institutions like Goldman expand their influence, crypto could drift further away from its decentralized roots.
Vanguard Finally Opens Its Doors to Crypto ETFs
In a separate but significant shift, Nate Geraci highlighted that Vanguard has finally reversed its years-long resistance to digital assets. The firm will now allow trading of spot crypto ETFs on its brokerage platform, giving its massive client base access to Bitcoin, Ethereum, XRP, and Solana ETFs. However, Vanguard stressed that it has no plans to launch its own crypto ETF lineup.
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FAQs
Bitcoin is up today as improving market sentiment, stronger ETF inflows, and easing macro pressures boosted buying interest after recent volatility.
Yes. Major institutions like Goldman Sachs are increasingly adopting crypto-linked products like ETFs. This brings credibility and regulated access, but some worry it shifts Bitcoin from its decentralized roots.
Yes. Vanguard now allows trading of spot Bitcoin, Ethereum, XRP, and Solana ETFs on its brokerage platform for clients, reversing its previous ban. It won’t create its own crypto ETFs, however.
Vanguard opened crypto ETF access to meet rising investor demand, letting clients trade Bitcoin, Ethereum, XRP, and Solana through its brokerage.
Vanguard’s support increases mainstream access, giving millions of investors regulated ways to gain crypto exposure without holding coins.
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