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

Hey there! Before reading the article which is about Goldman Sachs Launches Bitcoin Derivatives Trading as ‘Institutional Demand Continues to Grow Significantly’ – Bitcoin News, you should read about goldman sachs bitcoin. It shares basic information about this article and also adds more value to it. Do let us know how you feel about it in the comment section below. Happy Reading! Really glad that you are here.

After speculation that Goldman Sachs would launch cryptocurrency trading, the Wall Street giant has finally launched its market for bitcoin derivatives. According to a press release this morning, GS is making its highly-anticipated market for its clients. According to the announcement, Goldman Sachs is working alongside the other principal partners involved in the initiative, namely the CME Group, the Crypto Facilities Ltd., and the clearinghouse BitGo. As an initial step, the investment banking firm will offer clients the ability to trade bitcoin futures, whose value is based on that of the digital currency.

As some of the most well-known financial institutions in the world are getting into the cryptocurrency market, more and more people are taking an interest in the market. Goldman Sachs’ decision to launch a Bitcoin derivatives trading service to meet the “rapidly growing institutional client demand” is the latest move by a big financial player, joining others like Daimler AG, which recently began accepting Bitcoin payments, and the New York Stock Exchange, which added Bitcoin futures trading.

Investment bank Goldman Sachs has reportedly begun offering a bitcoin-based investment product to its customers. The company has opened trading in Non-Deliverable Forwards, a derivative of bitcoin. To hedge against the volatility of cryptocurrencies, Goldman Sachs will trade bitcoin futures on the CME Group.

Goldman Sachs is starting to offer abitcoin product to its customers.

Investment bank Goldman Sachs has opened trading in non-deliverable futures contracts – derivatives linked to the price of bitcoin that are paid for in cash, Bloomberg reported Thursday.

The company hedges against bitcoin volatility by buying and selling bitcoin futures in block trades on CME Group Inc. with Cumberland DRW as its trading partner, the release said. The investment bank recently revived its bitcoin trading division, saying in March that it planned to offer a full range of bitcoin-related investment products.

Max Minton, head of digital assets for the Asia-Pacific region at Goldman Sachs, said the firm’s new bitcoin offering paves the way for the development of our cash-cleared cryptocurrency capabilities. He is quoted:

Institutional demand continues to grow strongly in this area, and the opportunity to work with partners like Cumberland will help us expand our capabilities.

Justin Chow, global head of business development at Cumberland DRW, said Goldman Sachs serves as an indicator of institutional investor sophistication in the face of market changes:

This year, we’ve seen rapid adoption of and interest in cryptocurrencies among more traditional financial firms, and Goldman’s entry into the space is another sign of its maturation.

What do you think about Goldman Sachs offering bitcoin derivatives to its clients? Let us know your comments in the section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.

This source has been very much helpful in doing our research. Read more about goldman sachs bitcoin desk and let us know what you think.

Related Tags:

goldman sachs bitcoinbitcoin pricecryptocurrencycoinbasegoldman sachs bitcoin deskgoldman sachs trading bitcoin,People also search for,Privacy settings,How Search works,Cryptocurrency,Coinbase,Binance,Tesla, Inc.,Square,Gemini,Robinhood,See more,goldman sachs bitcoin,bitcoin price,coinbase,goldman sachs bitcoin desk,goldman sachs trading bitcoin,gs crypto,bitcoin price news today

Recent Articles

How to Buy Everex (EVX) | Step By Step Guide 2018

Everex is a platform that aims to bring the benefits of blockchain technology to emerging markets. With its own cryptocurrency, EVX, Everex allows users...

Visa and Worldpay Take Blame for Erroneous Charges on Coinbase

A recent report from the Wall Street Journal revealed that two of the largest payment processors, Visa and Worldpay, were responsible for erroneously charging...

Conflux Network Price Prediction – How Much Will CFX Be Worth in 2021?

Conflux has a bright future ahead of it. With the release of their new platform and the upcoming changes, we believe that this coin...

How Long Does it Take to Mine a Bitcoin?

Bitcoin mining is the process of making computer hardware do mathematical calculations for the Bitcoin network to confirm transactions and increase security. Mining is...

Siacoin Price Prediction for 2020, 2022, & 2025 – Crpyto Coin Society

Siacoin is a decentralized storage platform. The company’s goal is to provide a decentralized cloud storage network, which will allow users to store and...

Related Stories