US investment bank Goldman Sachs continues to consolidate its position in the cryptocurrency market.
According to CNBC’s report, the giant bank cryptocurrency It will announce that it is the first major US bank to do business.
customers before to Ethereum to enable them to invest easily and directly. Galaxy Digital Partnering with Goldman Sachs, Galaxy Digital’s bitcoin He traded a product associated with .
Compared to the CME Group Bitcoin product trade, which the US bank started trading last year, Bitcoin By using it as principal, he took more risks.
In this context, this move by Goldman Sachs was considered a remarkable step in the development of crypto markets for institutional investors.
Commenting on the subject Max Minton, head of digital assets Asia Pacific, Goldman Sachs used the following terms:
“Our first cash-out cryptocurrency options trade with Galaxy Digital We are happy that we made it.
This is a significant improvement in our digital asset capabilities and the broader evolution of the asset class.”
Damien Vanderwilt, co-chairman of Galaxy Digital, who evaluated Goldman Sachs’ cryptocurrency transactions, said:
“This trade represents the first step banks are taking to offer direct, customizable exposures to the crypto market on behalf of their clients.
Also, options trading is much more systematically relevant to the markets than neutral futures or other exchange-based products.”
Goldman Sachs In December, he explained that the next step is to develop options markets, noting that the bank is seeing high demand for options linked to digital assets.
*Not investment advice.