Goldman Sachs Launches Bitcoin Derivatives Trading as ‘Institutional Demand Continues to Grow Significantly’ – Bitcoin News

Goldman Sachs Launches Bitcoin Derivatives Trading as ‘Institutional Demand Continues to Grow Significantly’ – Bitcoin News

Bitcoin derivatives bitcoin forwards bitcoin futures bitcoin trading CME CME Group Goldman Sachs goldman sachs bitcoin goldman sachs crypto goldman sachs cryptocurrency markets and prices
May 6, 2021 by admin
146
Funding financial institution Goldman Sachs has reportedly begun providing a bitcoin funding product to shoppers. The agency has opened up buying and selling with non-deliverable forwards, a bitcoin derivatives product. To hedge in opposition to the cryptocurrency’s volatility, Goldman Sachs will commerce bitcoin futures on CME Group. Goldman Sachs Begins Providing Bitcoin Product to Shoppers
Goldman Sachs Launches Bitcoin Derivatives Trading as 'Institutional Demand Continues to Grow Significantly'

Funding financial institution Goldman Sachs has reportedly begun providing a bitcoin funding product to shoppers. The agency has opened up buying and selling with non-deliverable forwards, a bitcoin derivatives product. To hedge in opposition to the cryptocurrency’s volatility, Goldman Sachs will commerce bitcoin futures on CME Group.

Goldman Sachs Begins Providing Bitcoin Product to Shoppers

Funding financial institution Goldman Sachs “has opened up buying and selling with non-deliverable forwards, a spinoff tied to bitcoin’s worth that pays out in money,” Bloomberg reported Thursday.

The agency is defending itself from bitcoin’s volatility by shopping for and promoting bitcoin futures in block trades on CME Group Inc., utilizing Cumberland DRW as its buying and selling associate, the publication conveyed. The funding financial institution lately introduced again its bitcoin buying and selling desk and revealed in March that it plans to supply a full spectrum of bitcoin funding merchandise.

Goldman Sachs’ Asia Pacific head of digital belongings, Max Minton, defined that the agency’s new bitcoin providing is “paving the best way for us to evolve our nascent cash-settled cryptocurrency capabilities.” He was quoted as saying:

Institutional demand continues to develop considerably on this house, and having the ability to work with companions like Cumberland will assist us increase our capabilities.

Cumberland DRW’s world head of enterprise improvement, Justin Chow, stated that “Goldman Sachs serves as a bellwether of how refined, institutional buyers strategy shifts available in the market,” elaborating:

We’ve seen speedy adoption and curiosity in crypto from extra conventional monetary corporations this yr, and Goldman’s entrance into the house is one more signal of the way it’s maturing.

What do you consider Goldman Sachs providing bitcoin derivatives to shoppers? Tell us within the feedback part under.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It isn’t a direct provide or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, companies, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, immediately or not directly, for any harm or loss prompted or alleged to be attributable to or in reference to the usage of or reliance on any content material, items or companies talked about on this article.

Add a comment