Goldman Sachs to Expand Crypto Trading Options to Ethereum

Goldman Sachs Ethereum Options
  • Goldman Sachs revealed in a phone interview that they are planning to offer Ethereum to its clients.
  • The bank stated that many of its clients are interested in trading cryptocurrencies.
  • At the time of writing, Ethereum price is $2,552.98.

Multinational banking giant Goldman Sachs has announced that it is mulling over the expansion of its crypto trading offering to Ethereum along with Bitcoin. Specifically, the bank will offer options and futures trading for the said currency in the succeeding months.

According to Matthew McDermott, head of digital assets at Goldman Sachs, they have a lot of clients that are interested in trading cryptocurrencies. In fact, the recent price meltdown in the crypto market is “palatable” to them.

McDermott said:

“We’ve actually seen a lot of interest from clients who are eager to trade as they find these levels as a slightly more palatable entry point. We see it as a cleansing exercise to reduce some of the leverage and excess in the system, especially from a retail perspective.”

The news came shortly after Bank of England Chief Andrew Bailey reiterated his warning against cryptocurrencies. He recently said that cryptocurrencies are not a good medium for payment.

At the time of writing, ETH price is $2,552.98, according to CoinGecko.

Meanwhile, Bitcoin has surged back to $40,000 after Tesla CEO Elon Musk clarified that they may accept BTC payments again.

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