Goldman Sachs predicts considerable growth in the crypto market by 2024, thanks to traditional financial institutions entering the space. The head of digital assets at Goldman Sachs, Mathew McDermott, believes that the increased commercial applications of blockchains and regulations will drive this growth. He notes that the influx of traditional financial institutions in the past year demonstrates the acceptance that digital assets can bring efficiency and de-risk business models. McDermott also emphasizes the importance of regulatory clarity in boosting crypto adoption globally. He expects tokenization to gain traction, particularly with traditional assets, and foresees the development of marketplaces and secondary liquidity on chain. Furthermore, he anticipates gradual growth in ETFs, starting with more vanilla asset classes before expanding to more opaque ones. McDermott also discusses the potential impact of Spot Bitcoin ETFs on Bitcoin liquidity. Despite their potential approval by the SEC, he believes their growth will be gradual throughout the year.
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