Goldman Sachs has started giving its institutional trading clients research reports from crypto news and data firm The Block.
Hedge funds and other clients began receiving the reports Thursday via the investment bank’s Marquee
digital platform. The first report available to Goldman clients was an overview of decentralized finance (DeFi) protocols on the Ethereum network.
“In an effort to provide relevant digital assets content and research, GS Digital Assets is now providing exclusive access to select reports from The Block Research,” the bank said. “While these typically require a paid subscription, clients can access them for free with a Marquee account.”
A Goldman spokesperson confirmed the authenticity of the client's email and declined to comment further. The investment bank has said that its Marquee platform, which allows clients to access data and analytics without using traditional methods like calling salespeople, has 50,000 active monthly users.
The dizzying ascent of bitcoin and other cryptocurrencies in recent years has been accompanied by the rise of new news outlets like The Block and CoinDesk and expanded hiring by established outlets including Bloomberg News.
“Large financial institutions and technology companies have leveraged The Block’s suite of research and data services to more deeply understand the fast-growing market for digital assets for some time now,” The Block CEO Michael McCaffrey said in an email.