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| Goldman Sachs Launches New Bitcoin |
Goldman Sachs has introduced new Bitcoin derivatives for its clients. US banking giant Goldman Sachs has begun offering Bitcoin-backed non-transferable futures contracts to Wall Street investors, according to Bloomberg's Matt Leising.
New Bitcoin Product
By trading blocks on the Chicago-based futures exchange, investors rely on CME Group's Bitcoin futures to guard against the cryptocurrency's impressive volatility. Crypto asset trading firm Cumberland DRW acts as Goldman's trading partner.
The new derivative product was quietly introduced to Goldman's customers last month.
Goldman Sachs COO John Waldron predicted a "boom" in demand for cryptocurrencies in March.
Earlier this year, the bank relaunched its crypto trading desk and announced its plan to offer its crypto custody service.
Goldman also led a $ 15 million funding round at the cryptocurrency data analytics startup CoinMetrics.
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