Goldman Sachs Expands Cryptocurrency Trading Desk with Ether Futures and Options

Investment bank Goldman Sachs has announced plans to expand its cryptocurrency desk to offer ether futures and options trading. Noting that "corporate insurance will continue," the bank said, "despite the material price correction, we still see a significant amount of interest in this area." Goldman Sachs set to offer Ether futures and options trading Mathew McDermott, head of digital assets at Goldman Sachs, announced that the global investment bank plans to expand its Ether futures and options trading in the coming months (ETH), Bloomberg reported Monday. . McDermott said in a phone interview with the broadcast Thursday: "We've had a lot of interest from customers willing to trade as they found these levels a slightly more palatable entry point. We see this as a clean up effort to reduce some of the leverage and redundancy in the system, especially from a retail perspective. The executive also said that Goldman Sachs plans to offer banknote trading on the bitcoin exchange. Goldman Sachs officially formed a cryptocurrency trading team in early May after seeing huge institutional demand for the cryptocurrency. The investment bank also recently said that bitcoin is now a new asset class. In May, the company spearheaded a $15 million investment in crypto data provider Coin Metrics. "We're looking at a number of different companies that fit our strategic direction," McDermott said. Goldman Sachs has said several times that institutional interest in bitcoin has increased significantly. In a survey of 850 institutions last week, the bank found that about one in 10 respondents trade in cryptocurrencies and 20% are interested in the asset class. McDermott said in more detail: Institutional adoption will continue. Despite the material price correction, we continue to see a significant amount of interest in this area. What do you think about the ether options Goldman Sachs offers?

Join the Discussion

  • BrokerEUR/USD
    InterTrader 0.6pips (fixed) margin: 3.33%
    FX Pro 0.91pips. (variable) margin: 3.33%
  • Back to top