'When I think about tokenization, which is obviously a topic that’s kind of talked about quite extensively, I think for me next year what we’ll start to see is the development of marketplaces,” Mathew McDermott told Fox Business. He sees the emergence of secondary liquidity on the blockchain as a key enabler for the adoption of tokenization, especially on the buy side with investors. McDermott places particular emphasis on the tokenization use case, predicting the development of marketplaces around this concept in the coming year. ‍ Tokenization Use Case and Marketplace Development According to McDermott, the market is optimistic that the regulator will approve bitcoin ETFs, marking a significant milestone for crypto.

Securities and Exchange Commission (SEC). Over a dozen firms, including financial giants like BlackRock and Fidelity, have submitted applications for spot bitcoin ETFs, awaiting approval from the U.S. Instead, he envisions a gradual shift in the digital assets landscape over the coming year, assuming regulatory approval is granted.

‍ Gradual Transformation with Spot Crypto ETFs Approvalĭespite the heightened anticipation surrounding the potential approval of spot crypto ETFs, the head of digital assets at Goldman Sachs suggests that an immediate transformation should not be expected. This involvement, he believes, signals a transformative phase for the industry, laying the groundwork for further expansion. McDermott highlights a notable trend over the past 12 to 18 months-the increasing participation of traditional financial institutions in the digital assets space. In a recent interview with FOX Business, Mathew McDermott, the head of digital assets at Goldman Sachs, shared insights into the evolving landscape of the digital assets market.Īccording to McDermott, the coming year holds promise for significant growth and maturity in the digital assets space, driven by the introduction of more commercial applications of blockchain technology and supportive regulatory measures.

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