Goldman Sachs will start trading bitcoin futures in the coming weeks

Goldman Sachs will start trading bitcoin futures in the coming weeks

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Investment bank Goldman Sachs will use its own money to trade bitcoin futures on behalf of its customers, writes The New York Times.

As the newspaper reports, the exact date of the beginning of the auction is still unknown, but the board of directors of the bank has already agreed to this. Goldman Sachs “will create its own, more flexible version of the futures, also known as a non-deliverable forward, which will offer its customers,” the NYTimes report said.

Executive Director Rana Yared said that the decision was made by the bank in response to numerous inquiries from customers who show interest in bitcoin as an alternative asset.

“We respond when the client says,” I want to keep bitcoin or bitcoin futures, because I consider it an alternative means of accumulation,” she said in a conversation with the publication.

In late April, it became known that the position of head of digital assets markets in Goldman was opened, which will work with the day-to-day operations of its customers.

Earlier, CEO Lloyd Blankfein said that the bank is engaged in clearing futures for bitcoins for a certain group of its customers. According to NYTimes, the closer work with bitcoin will be discussed only if this step is approved by US regulators.

According to Yared, Goldman representatives adhere to the precautionary approach when working with cryptocurrencies.

“Almost all the involved persons approached this question with a grain of skepticism,” she said. “This is not a new risk that we do not understand. This is simply an increased risk, with which we must be extremely cautious.”

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