Open Demo Account
Home / Market Update / Cryptocurrency / Goldman Sachs is Trading Bitcoin Derivatives

Goldman Sachs is Trading Bitcoin Derivatives

M. Ali 7 May, 2021 11:00 pm Cryptocurrency, Market Update

Goldman Sachs is reportedly creating a new cryptocurrency trading desk, according to an internal memo first cited by CNBC.

The desk has successfully traded two Bitcoin-linked derivatives, as per the cited memo, which was distributed on Thursday to the bank’s markets staff.

The idea has been considered since 2017, when Bitcoin began surging to unprecedented levels.

Last month, Reuters reported that Goldman Sachs Group has resumed the activity of its cryptocurrency trading desk as part of the Global Markets division.

The bank is reportedly exploring the potential for a bitcoin exchange traded fund (ETF).

The cryptocurrency desk was originally founded in 2018 and its return came amid increased institutional demand for digital assets.

Tags

Check Also

Oil Retreats from $100 Peak as Sanctions Ease but Geopolitical Risks Loom

Oil prices slipped back after briefly crossing the symbolic $100 mark, as markets weighed improved …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends