Bitcoin: Goldman Sachs launches BTC trading desk

According to information revealed by Reuters last night, famous investment bank Goldman Sachs (NYSE: GS) has restarted its cryptocurrency trading desk project and will begin trading bitcoin futures for its clients from the next week.

The crypto team will be integrated into the US bank’s Global Markets division, sources familiar with the matter said.

The project is part of Goldman Sachs’s business in the growing digital assets industry, which also includes projects involving blockchain technology and central bank digital currencies, according to other sources cited by CNBC.

As part of this, the bank is also exploring the potential of a Bitcoin ETF and has issued an information request to explore the custody of digital assets, the source said.

Recall that Goldman Sachs announced similar plans in 2018 before abandoning the idea of ​​a trading desk dedicated to crypto-assets, citing regulatory uncertainty.

After resolving security issues, like how it would hold assets, the bank is therefore poised to start using its own money to trade a variety of undeliverable futures contracts tied to the price of Bitcoin with its clients.

This move represents another important step in the adoption of cryptocurrencies by the general public, which has already taken a leap forward in the past two months. Earlier this month, BNY Mellon, for example, said it would soon hold, transfer and issue cryptocurrency on behalf of its asset manager clients.

Finally, with regard to the recent evolution of Bitcoin, it will be recalled that after a low close to $ 43,000 last Sunday, Bitcoin posted a sharp rebound yesterday, peaking at $ 49,500 last night.

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