Goldman Sachs starts trading Ethereum-linked derivative
US bank GoldmanSachs has begun to offer an Ethereum-linked product for trading
It offers institutional investors indirect exposure to the cryptocurrency
The offering could signal an interest among institutional investors in Ethereum
US bank GoldmanSachs has begun trading in an Ethereum-linked derivative.
The product is an Ethereum non-deliverable forward (NDF), a foreign exchange derivatives product traded over the counter that pays out based on the price of ether. It is aimed at institutional investors looking for exposure to the cryptocurrency.
The bank has long been a backer of crypto startups, including CertiK, a blockchain security outfit, and now the launch of a specific crypto product highlights its intentions to become more active in this industry.
To learn more about cryptocurrencies, visit our learning platform here.