Goldman Sachs has executed an over the counter( OTC) Bitcoin non-deliverable option (NDO), the first OTC crypto transaction by a major U.S. bank claims Galaxy Digital, its counterparty. In June last year, Goldman re-opened its Bitcoin trading desk in response to institutional demand. Until now, its options trading has been limited to CME options, whereas with OTC options, the bank can offer customers a more tailored approach.
This is another of Goldman’s steps in the crypto and blockchain sectors. Its wealth management division offers clients access to crypto funds. And at one stage, Goldman was exploring launching a blockchain-related ETF, although we believe it has not yet launched.
The bank has made a wide range of investments in startups. These include crypto custody company Anchorage, crypto infrastructure firm Blockdaemon, and Coin Metrics, a blockchain analytics startup.
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