Goldman Sachs is planning to launch three new tokenization products this year, a company executive has revealed. Microsoft and Apple have decided against joining the board of OpenAI. Meanwhile, Ethereum ETFs are “close to the finish line,” says crypto asset manager Bitwise CCO Katherine Dowling.
Goldman readies three new tokenized products: Report
Goldman Sachs’ global head of digital assets, Mathew McDermott, has revealed that the investment bank is planning to roll out three tokenization products this year.
In an interview with Business Insider, McDermott said that the bank has seen “a major uptick in interest from clients” regarding crypto. Although he declined to provide specifics about the forthcoming products, he said Goldman Sachs plans to establish marketplaces for tokenized real-world assets (RWAs).
The executive said the “renewed momentum in crypto” was largely driven by the growth and adoption of Bitcoin exchange-traded funds (ETFs) in the United States. Regulators are now reviewing registration filings for spot Ethereum ETFs, which are expected to begin trading later this month.
“There could be other things that we as a firm would naturally be interested, subject to approval, to do, like execution and maybe sub-custody,” McDermott said.
Microsoft and Apple renounce OpenAI board membership
Technology giants Microsoft and Apple have reportedly decided not to take up board seats at the artificial intelligence firm OpenAI amid increasing regulatory scrutiny.
Microsoft has sent a letter to OpenAI announcing its withdrawal from the board, Bloomberg reported on July 10, citing an anonymous person familiar with the matter.
The withdrawal came about a year after the Windows software maker made a massive $13 billion investment in OpenAI in April 2023.
“Over the past eight months we have witnessed significant progress from the newly formed board and are confident in the company’s direction,” Microsoft reportedly wrote in its memo to OpenAI, adding:
In contrast to recent reports that Apple would also get an observer role on OpenAI’s board as part of a landmark agreement announced in June, OpenAI will have no board observers after Microsoft’s departure, the company reportedly said.
“We’re grateful to Microsoft for voicing confidence in the board and the direction of the company, and we look forward to continuing our successful partnership,” OpenAI stated.
The news comes amid the increasing regulatory pressure on Big Tech firms over its potential impact on AI and industry dominance.
Ethereum ETFs are “close to the finish line” — Bitwise CCO
A roster of eight spot Ether (ETH) ETFs is inching closer to a final launch date as the amount of back and forth between prospective fund issuers and the SEC begins to slow down, says Bitwise chief compliance officer Katherine Dowling.
“We’re seeing in the S-1 amendments that there are fewer and fewer issues that are being vetted back and forth between issuers and the SEC,” Dowling said on July 9.
“So that points all signs in the direction that we are close. We’re close to the finish line on the launch.”
Bitwise’s chief investment officer Matt Hougan speculated the spot Ether ETFs could attract up to $15 billion in inflows in the first 18 months of trading — roughly the same amount that the spot Bitcoin ETFs have mustered in since launching six months ago.
Additional reporting by Felix Ng, Sam Bourgi and Geraint Price.
This news is republished from another source.
