Investment banking giant Goldman Sachs will invest their own money in trading bitcoin futures on behalf of clients.
The New York Times reported: it’s still unclear when the launch of the derivatives. The Director has just signed the order. Goldman plans to offer customers non-deliverable forward — a more flexible version of the future.
SEO Rana Yared said that the decision was made due to growing requests from customers who were interested in bitcoin as an alternative investment. The investment Bank has hired the first daily trader digital assets, Justin Schmidt. He previously worked as a trader in a hedge Fund Seven Eight Capital and then went to the cryptocurrency market.
According to Yared, the Bank executives prefer a cautious approach.
“Almost all participants in the process are [bitcoin-futures] are very skeptical. Not that we don’t understand a new risk. The fact that this risk is reinforced, and we must be extremely vigilant.”
The news reflects the growing interest of Goldman in the cryptocurrency market. According to the Times, the Bank will take other actions — like the direct holding of bitcoin — only after approval by US regulators.