Goldman Sachs Will Trade Bitcoin Futures Amid Crypto Boom
Law360 (March 1, 2021, 8:26 PM EST) -- Goldman Sachs is poised to launch a cryptocurrency trading desk with an eye to trading bitcoin futures and other derivatives, a move that coincides with a recent uptick in institutional interest in the cryptocurrency.
The team will be part of The Goldman Sachs Group Inc.'s Global Markets division, with trading to begin in mid-March, a person familiar with the situation told Law360. The bank will deal bitcoin futures and non-deliverable forwards, a type of derivative frequently associated with currency markets.
The bank reportedly kick-started a cryptocurrency desk in 2018, but backed off as bitcoin prices hit a prolonged trough.
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