Goldman Sachs to Offer Ether Futures and Options Trading
Goldman Sachs head of digital assets Mathew McDermott has reportedly revealed that the global investment bank plans to offer ether (ETH) futures and options in the coming months, Bloomberg reported on Monday.
McDermott said in a telephone interview with the publication on Thursday:
In fact, we’ve seen a lot of interest from clients wanting to trade as they find these levels a slightly more acceptable entry point. We see it as a clean-up exercise to reduce some of the leverage and excess in the system, especially from a retail perspective.
The executive further stated that Goldman Sachs plans to offer bitcoin exchange-traded note trading.
Goldman Sachs officially created a cryptocurrency trading team in early May after seeing huge institutional demand for cryptocurrency. The investment bank also recently said that bitcoin is now a new asset class. In May, the company led the $ 15 million investment in crypto data provider Coin Metrics. McDermott added, “We are looking at a number of different companies that align with our strategic direction. “
Goldman Sachs has repeatedly stated that institutional interest in bitcoin has increased dramatically. In a survey last week of 850 institutions, the bank found that nearly one in 10 respondents trades cryptocurrencies and 20% are interested in the asset class.
Institutional adoption will continue. Despite the significant price correction, we continue to see significant interest in this space.
What do you think of the fact that Goldman Sachs offers ether options trading? Let us know in the comments section below.
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