Goldman Sachs to launch futures and options trading in Ethereum

Karthik Subramanian

Goldman Sachs would soon be launching trading of futures and options trading for its clients, according to their Head of Digital Assets, Mathew Mcdermott.

The bank has already been busy with its offering of bitcoin derivatives to its client and this is a move to expand this offering. It is believed that Goldman continues to see a lot of potential in the growth of the crypto industry and hence efforts are being made to add more cryptos to their basket as this is a boost for the crypto industry as a whole.

“We’ve actually seen a lot of interest from clients who are eager to trade as they find these levels as a slightly more palatable entry point,” McDermott said in a phone interview on Thursday. “We see it as a cleansing exercise to reduce some of the leverage and the excess in the system, especially from a retail perspective.”

Despite the fall in crypto prices over the last month or so, the appetite among the investors and traders for crypto continues to be strong. In fact, many of the traders find this price point as something favorable to them as the current price point is more than 30% away from all time highs.

One point to note is the continued focus of the regulators on the crypto industry as they still can’t come to terms with how to control this domain. There have been attempts by different regulators with different methods that include banning their trading altogether to strict measures to control the trading and growth but none of these seem to have rattled any of the investors so far and the industry has continued to see a lot of investments with institutions also beginning to show a lot of interest.

Goldman had also restarted its bitcoin desk recently and hired additional members to its crypto team as it has also started investing in various crypto startups like Blockdaemon and Coin Metrics. Many other banks, mutual funds, and asset management firms have also been pushing new products based on crypto and it looks as though it is only a matter of time before there is mainstream acceptance of crypto as an alternative form of investment and we should be seeing the industry grow manifold once the SEC and other regulatory authorities decide on how to go about managing and regulating the crypto flow.

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