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Goldman Sachs has reportedly opened up futures on Bitcoin trade for Wall Street executives, Bloomberg Law reports. Last month, the investment firm started offering investors non-deliverable forwards, a derivative asset tied to the price of Bitcoin, which was $56,000 at the time of publishing.
According to Bloomberg Law, last month the investment firm began offering trading with non-deliverable forwards, a derivative tied to the price of Bitcoin (BTC) — roughly $56,000 at the time of publication — for which investors can get paid in fiat. Goldman Sachs reportedly lessens its risk to the crypto asset’s infamous volatility by buying and selling Bitcoin futures in block trades on the Chicago Mercantile Exchange, or CME, Group using the crypto trading unit of DRW Holdings, Cumberland.
According to rumors, the investment firm plans on opening a cryptocurrency trade desk after first announcing one in 2017. This story is being developed and will be updated as it unfolds.
This story is developing and will be updated.
