Goldman Sachs Will Offer Ethereum Derivatives
US investment bank Goldman Sachs intends to create the basis for a wider adoption of the second largest cryptocurrency by capitalization, offering Ethereum (ETH) derivatives in the near future.
Matthew McDermott, managing director of digital assets at Goldman Sachs, confirmed in an interview with Bloomberg News that the investment bank is expanding with the options and ether futures. Institutional demand for cryptocurrencies will continue to grow despite the recent market volatility, he said:
“Institutional demand will continue. Despite the price adjustments, we continue to see significant interest in this area.”
McDermott noted that it is not only Goldman Sachs who are interested in developing investments in the cryptocurrency sphere. According to him, in a survey of 850 organizations conducted last week, almost 10% of respondents said they trade in cryptocurrency, and 20% are interested in entering the market.
As you know, in early May, Goldman Sachs bank launched a limited trading platform for Bitcoin derivatives. The new division is part of the bank’s global currencies and emerging markets division, and is overseen by McDermott’s digital assets division.