Reports suggest Goldman Sachs is now offering Bitcoin derivatives

Cointelegraph

Published May 06, 2021 03:52PM ET

Updated May 06, 2021 07:20PM ET

Investment banking giant Goldman Sachs (NYSE:GS) has reportedly opened up futures trading on Bitcoin to Wall Street executives.

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 be 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 using the crypto trading unit of DRW Holdings, Cumberland.

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