bitcoin futures, Goldman Sachs, goldman sachs bitcoin, goldman sachs bitcoin trading, goldman sachs btc, goldman sachs crypto, goldman sachs cryptocurrency, trading desk

Global investment bank Goldman Sachs has brought back its bitcoin trading desk and will start handling bitcoin futures next week. The firm is also reportedly exploring the potential for a bitcoin exchange-traded fund (ETF) and plans to provide a crypto custody service.

  • Goldman Sachs Group Inc. has restarted its cryptocurrency trading desk, Reuters reported Monday, citing a person familiar with the matter. Goldman first set up a cryptocurrency desk in 2018, after a bull run as the price of bitcoin was falling from record highs, muting investor interest in the cryptocurrency.
  • The desk will “begin dealing bitcoin futures and non-deliverable forwards for clients from next week,†the publication conveyed. It will also take on projects involving blockchain technology and central bank digital currencies (CBDCs).
  • The crypto desk will be within Goldman Sachs’ global markets division and will serve as a market-maker, buying and selling on behalf of clients but not actively managing cryptocurrencies itself, according to Forbes.
  • “The bank is also exploring the potential for a bitcoin exchange-traded fund and has issued a request for information to explore digital asset custody,†the source detailed. Currently, North America has two bitcoin ETFs, recently approved in Canada.

  • As bitcoin continues to outperform other assets, more companies are seeking to gain exposure to the cryptocurrency. For example, the Nasdaq-listed Microstrategy announced Monday that “it had purchased approximately 328 bitcoins for $15.0 million in cash†and “now holds approximately 90,859 bitcoins.†Moreover, 42 companies now collectively hold more than $65 billion worth of bitcoin.
  • The price of bitcoin has risen about 56% since the beginning of the year, currently standing at $48,677, based on data from markets.Bitcoin.com. Former Goldman Sachs CEO Lloyd Blankfein recently warned, “If I were a regulator, I would be kind of hyperventilating at the success of it [bitcoin].†Meanwhile, Goldman’s current global head of commodities research, Jeff Currie, said that the bitcoin market “is beginning to become more mature,†calling the cryptocurrency “a retail inflation hedge.â€

What do you think about Goldman Sachs bringing back its crypto trading desk? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

RELATED NEWS

US President Biden Pushes for More Stimulus, One Million ‘Plus-up’ Payments Go out This Week

U.S. politicians are talking about stimulus again in order to bolster American jobs and President Joe Biden’s infrastructure plan. At the end of last week, White House press secretary Jen Psaki explained that Biden would meet with bipartisan members of Congress on Monday in order to push his proposal. According to reports, Biden’s proposed plan […]

Xem chi tiết: US President Biden Pushes for More Stimulus, One Million ‘Plus-up’ Payments Go out This Week

US President Biden Pushes for More Stimulus, One Million ‘Plus-up’ Payments Go out This Week

U.S. politicians are talking about stimulus again in order to bolster American jobs and President Joe Biden’s infrastructure plan. At the end of last week, White House press secretary Jen Psaki explained that Biden would meet with bipartisan members of Congress on Monday in order to push his proposal. According to reports, Biden’s proposed plan […]

Xem chi tiết: US President Biden Pushes for More Stimulus, One Million ‘Plus-up’ Payments Go out This Week

Goldman Sachs Predicts ‘Big Evolution’ Coming to Cryptocurrency Regulation

Goldman Sachs CEO David Solomon foresees “big evolution†coming to cryptocurrency regulation as demand for bitcoin from clients continues to rise. He says that Goldman will “continue to find ways to serve our clients as we move forward.†Crypto Regulation Will Experience ‘Big Evolution,’ Says Goldman Sachs’ Chief David Solomon, the CEO of global investment […]

Xem chi tiết: Goldman Sachs Predicts ‘Big Evolution’ Coming to Cryptocurrency Regulation

BTC Futures Open Interest Hits $23B, Binance Captures Lion’s Share, Signals Say 43% Chance of $64K Bitcoin by Month’s End

Bitcoin futures open interest on Monday has crossed $23 billion according to data recorded on April 5. The crypto asset exchange Binance has taken the lead as far as open interest in bitcoin futures is concerned with a massive $10.5 billion in open interest. Binance Captures the Bitcoin Futures Lead Not too long ago, Bitcoin.com’s […]

Xem chi tiết: BTC Futures Open Interest Hits $23B, Binance Captures Lion’s Share, Signals Say 43% Chance of $64K Bitcoin by Month’s End

SEC Filing Shows Blackrock Held Bitcoin Futures Contracts Worth $6.15 Million

After signaling its intention to get exposed to bitcoin, Blackrock, the world’s largest asset manager, has now revealed its initial investments toward the crypto asset. According to the asset manager’s filing with the Securities and Exchange Commission (SEC) on March 31, Blackrock, through its Global Allocation Fund, held 37 bitcoin futures contracts worth $6.15 million. […]

Xem chi tiết: SEC Filing Shows Blackrock Held Bitcoin Futures Contracts Worth $6.15 Million

Goldman Sachs to Offer ‘Full Spectrum’ of Bitcoin Investments

Goldman Sachs has revealed that it will be offering bitcoin investments to its wealth management clients. The investment bank reportedly plans to offer a “full spectrum†of bitcoin investments, “whether that’s through the physical bitcoin, derivatives or traditional investment vehicles.†Goldman Sachs to Begin Offering Bitcoin Investments to Wealthy Clients Goldman Sachs is the second […]

Xem chi tiết: Goldman Sachs to Offer ‘Full Spectrum’ of Bitcoin Investments

More Stimulus Coming? President Biden and Senate Democrats Press for Another $3 Trillion

On the heels of the last stimulus package, U.S. President Joe Biden is creating more legislation that may lead to a massive $3 trillion package dedicated to domestic needs and infrastructure. The recent discussions with Biden and Senate Democrats honed in on the political party’s “Build Back Better†campaign. The recent stimulus talks have a […]

Xem chi tiết: More Stimulus Coming? President Biden and Senate Democrats Press for Another $3 Trillion

Bitcoin In Contango: How Pricing Differences Can Foreshadow Further Gains

Major differences in the spot price for bitcoin and the cost of buying the cryptocurrency in the futures market create unique opportunities for traders. Several factors may be behind this development, but it could be bullish for the bitcoin price outlook no matter the catalyst. Curious Developments Could Highlight Supply Shortage or Heightened Derivatives Demand […]

Xem chi tiết: Bitcoin In Contango: How Pricing Differences Can Foreshadow Further Gains

Bitcoin In Contango: How Pricing Differences Can Foreshadow Further Gains

Goldman Sachs Reports Rising Customer Demand for BTC: Predicts an ‘Explosion’ in the Use of Digital Currencies

Goldman Sachs Sees Huge Institutional Demand for Bitcoin — 76% of Clients Say BTC Price Could Reach $100K This Year

Bitcoin Futures Open Interest Smashes $15 Billion, CME Registers Over $33 Million in ETH Contracts

Coinbase Opts out of IPO Routine, Chooses Popular Direct Listing Route

Former Goldman Sachs CEO: If I Were a Regulator, I’d Be Hyperventilating at the Success of Bitcoin

Demand for Crypto Soars: Bitcoin Funds Break Records, Goldman Sachs Wants In

Crypto Derivatives Surge, Bitcoin Options Open Interest Climbs to $9.6 Billion