Goldman Sachs is giving hedge fund clients crypto research from data firm The Block

Rafael Henrique | SOPA photos | Light Rocket | Getty Images

Goldman Sachs has begun providing research reports to its institutional trading clients from news and data company The Block.

Hedge funds and other clients began receiving the reports Thursday via investment bank digital platform Marquee, according to an email obtained by CNBC. The first report available to Goldman clients was an overview of Decentralized Finance (DeFi) protocols on the Ethereum network.

“In an effort to provide content and research for relevant digital assets, GS Digital Assets now provides exclusive access to selected reports from The Block Research,” the bank said. “While these typically require a paid subscription, customers can access them for free with a Marquee account.”

The move by Goldman, a leading global investment bank, is a sign of increased demand from large investors for information and analysis on cryptocurrencies and related areas such as DeFi. Bank of America and Morgan Stanley announced new cryptocurrency research desks this year, while Goldman revamped its digital assets division last year and began trading bitcoin-related instruments in May.

A Goldman spokesperson confirmed the authenticity of the customer’s email and declined to comment further.

The investment bank said its Marquee platform, which allows customers to access data and analytics without using traditional methods such as contacting salespeople, has 50,000 monthly active users.

The astonishing rise of Bitcoin and other cryptocurrencies in recent years has been accompanied by the emergence of new news outlets such as The Block and CoinDesk and the expansion of employment by existing outlets including Bloomberg News.


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