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.

Read this next

Retail FX

Malaysia regulator exposes OctaFX clone, shady FB profiles

Malaysia’s financial regulator today warned online investors about the risks of following investment tips made on social-media platforms.

Digital Assets

Crypto trading volume spikes at Swiss bourse amid FTX collapse

The shockwaves from the historic collapse of Sam Bankman-Fried’s crypto empire are still being felt across the industry, but some trading venues are actually doing better because of it.

Executive Moves

CMC Markets adds Camilla Boldracchi to institutional sales

UK’s biggest spread better, CMC Markets has promoted Camilla Boldracchi to take on an expanded role within its institutional sales desk.

Institutional FX

FXSpotStream reports $1.48 trillion in monthly volume for November

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for November 2022, which moved higher on a yearly basis but reflected weak performance across executed trade volumes when weighed against the figures of the prior month.

Retail FX

Interactive Brokers’ client activity drops 30% YoY

Interactive Brokers LLC (NASDAQ:IBKR) saw 1.95 million daily average revenue trades, or DARTS, in November 2022 compared to 1.96 million transactions in the prior month.

Digital Assets

The rise of Crypto ETPs in traditional exchanges as crypto winter deepens

Institutional investors are increasingly looking at traditional regulated exchanges as their first route into digital assets amid market turmoil caused by the crypto winter and the collapse of several big names within the space, including FTX. Acuiti and Eurex surveyed 191 buy and sell-side firms on their views of the digital assets markets in order […]

Digital Assets

TP ICAP’s crypto arm receives FCA’s go-ahead

UK interdealer broker TP ICAP has received a regulatory go-ahead to launch its cryptocurrency services in the UK. The bid shows that the recent collapse of FTX exchange has done little to damp the interest of big names in running their own crypto business.

Industry News

Coin Signals founder to pay $2,847,743 after prison sentence over crypto Ponzi scam

The U. S. District Court for the Southern District of New York has ordered Jeremy Spence, founder of Coin Signals, to pay $2,847,743 in restitution to victims of a fraudulent virtual currency scheme.

Digital Assets

CME Group goes DeFi: Reference rates and real-time indices of Aave, Curve, Synthetix

“These rates are designed to provide traders, institutions and other users transparency and price discovery across a much broader range of tokens, allowing them to confidently and more accurately value cryptocurrency sector specific portfolios and manage price risk around various blockchain-based projects.”