Goldman Sachs launches a crypto classification system for institutional investors

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Goldman Sachs plans to transform the digital asset space by launching a cryptocurrency classification system. The investment banker will launch this service through a partnership with MSCI and Coin Metrics.

Goldman Sachs to launch crypto classification system

Goldman Sachs will launch a digital asset classification system through a partnership with the MSCI global index provider and the Coin Metrics crypto data company. The crypto classification system will classify hundreds of digital cryptocurrencies, allowing institutional investors to understand more about this asset class.

“We’re trying to create a framework for the digital asset ecosystem that our clients can understand because they increasingly need to think about performance tracking and risk management in digital assets, said Anne Marie Darling, the head of client strategy for Goldman Sachs’ Marquee platform.

Darling also admitted that the cryptocurrency sector had grown significantly in the past few years. The cryptocurrency sector has grown significantly in recent years. Last year, the global cryptocurrency market cap increased to $3 trillion. However, this valuation has dropped significantly this year, with the current market hovering slightly above $1 trillion.

The new service launched by Goldman Sachs will be known as Datonomy, and it will derive its name from taxonomy naming and classification in the natural world. This service can be accessed through Marquee, a digital storefront targeting institutional investors.

Goldman Sachs, MSCI, and Coin Metrics have divided the digital asset space into different classes, sectors, and subsectors. These assets will be classified depending on the usage of these tokens.

Classification system to allow asset managers to understand crypto

The classification will allow the managers of asset management firms and hedge funds to have a better way of understanding the cryptocurrency industry. This will be done in a manner that is similar to equities in the finance and technology sector. The classification system will also include themes such as growth versus value stocks.

Users can access the data feed offered by the classification system through research and analysis. Investors can also benchmark performance and manage their portfolios. They will also create investments in decentralized finance, smart contract platforms, the metaverse, and value transfer coins.

The CEO of Coin Metrics, Tim Rice, said that the leading asset management companies were yearning for an “adult framework” to help them understand digital assets while discussing them regularly.

Rice said that the classification system had been created to help asset managers venture into the digital asset space in a standardized manner. Moreover, this was the next step in understanding the sector to allow people to embrace it as they figured out where the market needed to head.

Over the past few years, large institutional players in the US have shown increased interest in cryptocurrency. Therefore, this new service could boost the adoption of cryptocurrency services and drive crypto prices.


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