Investment banking giant Goldman Sachs is said to have opened Bitcoin futures trading to Wall Street executives.
According to Bloomberg Law, last month, the investment firm began offering transactions with undeliverable forwards, a derivative linked to the price of Bitcoin (BTC), approximately $ 56,000 at the time of publication, for which investors they can receive payments in fiat currency. Goldman Sachs reportedly reduces its risk for infamous cryptocurrency volatility by buying and selling Bitcoin futures in bulk transactions on the Chicago Mercantile Exchange, or CME, Group using the cryptocurrency trading unit of DRW Holdings, Cumberland .
Goldman has apparently been increasing its exposure to the digital currency market following increases in the prices of tokens and institutional players like Tesla adopting digital currencies. Rumors have persisted that the investment firm plans to set up a digital currency trading table after first announcing it during the 2017 uptrend.
This story is being developed and will be updated.