TechFlow news — Goldman Sachs is further entering the emerging digital asset derivatives market. According to reports, Goldman Sachs executed a Bitcoin-related instrument called a "non-deliverable option" with cryptocurrency commercial bank Galaxy Digital, making it the first major U.S. bank to conduct over-the-counter (OTC) crypto trades.
Compared to exchange-based CME Group Bitcoin products that Goldman began trading last year, this latest transaction involves Goldman taking on greater risk as the direct counterparty, according to both companies.
Damien Vanderwilt, Co-President of Galaxy, said Goldman Sachs’ participation, as a top player in global traditional markets, indicates growing maturity among institutional investors such as hedge funds toward these assets. In an interview, Vanderwilt stated, “This trade represents the first step toward banks providing clients with direct, customizable exposure to the crypto market.”
Risk Disclosure: This website's content is not investment advice and offers no trading guidance or related services. Per regulations from the PBOC and other authorities, users must be aware of virtual currency risks. Contact us / [email protected] ICP License: 琼ICP备2022009338号
