Goldman Sachs Launching Long-Anticipated Bitcoin Trading Desk: Report

1 month ago 18

US banking giant Goldman Sachs is reportedly launching a Bitcoin trading desk and exploring other products in the crypto space.

An anonymous source “familiar with the matter” tells Reuters that Goldman will debut Bitcoin futures contracts later this month.

The multinational investment bank will operate the BTC trading desk within its Global Markets division.

Goldman is also reportedly interested in examining the potential of a BTC exchange-traded fund and digital asset custody services.

News first broke in late 2017 that Goldman was eyeing a BTC trading desk. But the project has long appeared stalled, with CoinDesk reporting that the plans were put on hold the following year due to regulatory concerns.

Goldman’s re-launch of the trading desk follows news from earlier this month that the Bank of New York Mellon Corporation is launching Digital Assets, a new enterprise unit dedicated to supporting BTC and other cryptocurrencies.

Goldman announced it was working on the prototype of a platform that will allow digital assets to move through the same network that managers use for traditional holdings like Treasury bonds and stocks.

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