Following years of slamming the cryptocurrency business, the Wall Street powerhouse has launched a slew of new efforts in recent months. According to sources, the bank plans to launch over-the-counter ETH options trading in response to increased client demand. In due course, Andrei Kazantsev, Goldman Sachs’s director of crypto trading, stated that the cash-settled ETH options feature is “in due course.”
According to the executive, the bank’s institutional clients have shown a rising interest in the digital asset business. According to customer George Lewin-Smith, a member of Goldman’s digital-asset team, ether has become “more of an investable asset class.” As a result, Goldman decided to go out by launching options trading, with Bitcoin becoming the first to do so last month.
After Goldman teamed up with Galaxy Digital, OTC ETH options trading became possible. According to the bank’s chief, the forthcoming collaboration will see Ethereum’s blockchain move from proof-of-work to proof-of-stake, which has also contributed to the increased client demand.
Last year, Goldman Sachs predicted that the second-largest digital asset would reach $8,000 by the end of the year.
It’s worth mentioning that Goldman Sachs was one of the most outspoken crypto detractors until recently, as many of the Wall Street powerhouses have altered their previous stances.
