When the price of bitcoin surged in 2018, banks including Goldman Sachs and Barclays explored setting up crypto trading desks and portfolio managers quit fund management giants to launch hedge funds focused on the sector.
These plans were quickly shelved. But five years later, traditional finance firms are again turning their attention to digital assets, just as crypto natives are foundering. But their ventures into the sector are focused on decidedly more pedestrian parts of the financial world.
