• Goldman Sachs will launch OTC Ethereum Options Trading

  • Goldman Sachs plans to expand its crypto efforts by establishing over-the-counter Ethereum options trading.

    After years of slamming the cryptocurrency business, the Wall Street powerhouse has launched a slew of similar projects in recent months. The most recent, as reported by Bloomberg, reveals the bank’s intention to launch OTC ETH options trading in response to increased client demand.

    The story stated that the cash-settled ETH options feature will be available “in due course,” citing Andrei Kazantsev, Goldman’s head of crypto trading.

    According to the CEO, the bank’s institutional clients are becoming more interested in the digital asset market. According to customers, George Lewin-Smith, who works on Goldman’s digital-asset team, ether has become “more of an investable asset class.”

    As a result, Goldman decided to take a risk by introducing options trading, with Bitcoin serving as the first example last month.

    After Goldman teamed with Galaxy Digital, OTC bitcoin options trading became possible. Bloomberg’s story, however, does not specify whether this will be the case with the OTC ETH options.

    The bank’s chief also stated that the forthcoming Merge — an event in which Ethereum’s blockchain will move from proof of work to proof of stake – has contributed to the increased client demand.

    Last year, Goldman Sachs forecasted that the second-largest digital asset will reach $8,000 by the end of the year.

    It’s worth mentioning that Goldman was one of the most outspoken crypto detractors until recently, but is now one of several Wall Street titans who have changed their tune.

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