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Goldman Sachs to Trade Bitcoin Futures

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Mon, 03/01/2021 - 17:32
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Alex Dovbnya
Banking giant Goldman Sachs has restarted its cryptocurrency trading desk
Goldman Sachs to Trade Bitcoin Futures
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Goldman Sachs, one of Wall Street's biggest banks, has decided to give its cryptocurrency trading desk another go, according to a March 1 Reuters report.   

It will start trading Bitcoin futures as well as non-deliverable forwards within its Global Markets division as early as next week.

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The banking giant is also currently exploring a Bitcoin-focused exchange-traded fund. On top of that all, it wants to dabble into cryptocurrency custody as well.       

Goldman claimed Bitcoin wasn't an asset class 

Back in March, there was tons of speculation about Goldman venturing into crypto trading, but the plan was then shelved. In April 2019, the bank denied that it even intended to open a trading desk for cryptocurrencies in the first place.  

Last May, Goldman faced harsh criticism from the cryptocurrency community after declaring that Bitcoin was not an asset class during its client call.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.