Resurgence of Interest in Crypto Options Trading at Goldman Sachs
Hedge fund clients of U.S. banking giant Goldman Sachs (GS) have become more active in crypto options trading this year, Bloomberg reported. The approval of spot bitcoin exchange-traded funds (ETFs) in the U.S. in January has triggered a “resurgence of interest” from Goldman clients. Max Minton, Asia Pacific head of digital assets at Goldman, mentioned in an interview with Bloomberg that there has been a notable increase in interest from clients in onboarding, pipeline, and volume since the beginning of the year.
Goldman Sachs is expanding its offerings to asset managers, bank clients, and certain digital asset firms. The demand is primarily driven by existing clients, especially hedge funds. In addition to cash-settled bitcoin (BTC) and ether (ETH) option trading, Goldman also offers CME-listed BTC and ETH futures.
The article also highlights the fact that Goldman Sachs did not immediately respond to CoinDesk’s request for further comment.
Goldman’s Crypto Options Trading Expansion
Goldman Sachs, a major player in the financial industry, has seen a significant uptick in interest from hedge fund clients in the realm of crypto options trading. This surge in activity follows the approval of spot bitcoin ETFs in the United States earlier this year. The report indicates that the resurgence of interest is not limited to hedge funds but extends to asset managers, bank clients, and specific digital asset firms.
Future Outlook
As the crypto market continues to evolve, the increased engagement of traditional financial institutions like Goldman Sachs signals a growing acceptance and integration of digital assets into mainstream finance. The expansion of crypto options trading at Goldman reflects a broader trend of institutional adoption within the cryptocurrency space.
Conclusion
The resurgence of interest in crypto options trading at Goldman Sachs underscores the shifting landscape of traditional finance towards embracing digital assets. With the approval of spot bitcoin ETFs catalyzing this renewed interest, the future outlook for crypto trading within established financial institutions appears promising.
By Flora Bennett
Image for illustrative purposes only
