Goldman Sachs Introduces Ethereum Futures
Goldman Sachs intends to offer its clients Ethereum futures and options trading based on the main altcoin in the cryptocurrency market.
The Wall Street investment bank that previously criticized Bitcoin changed its anger to mercy by “adopting” the main cryptocurrency on the market at the beginning of this year. Now, apparently, the turn has come to expand the existing offerings by introducing Ethereum derivatives.
The head of digital assets at Goldman Sachs, Matthew McDermott, said the innovation will be available to customers in a few months. According to him, even despite some market volatility, institutional interest in major cryptocurrencies will continue to grow steadily. He believes that one of the main reasons for this is the increased demand for this asset class from clients. This, in turn, forces financial institutions to change established “habits” and learn to adopt new technologies.
McDermott also mentioned a survey conducted among 850 organizations last week, which revealed that 10% of those surveyed are already trading digital currencies, and 20% are very interested in "entering" this emerging market.
Institutional leverage of funds in Ethereum-based products has reached $1 billion this year alone, and the total assets at the disposal of financial institutions are over $11 billion.
According to Bloomberg, in addition to sponsoring various startups in the cryptocurrency industry, Goldman Sachs is interested in other options for crypto investments, the details of which they will also try to disclose soon.