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Goldman Sachs’ crypto trading desk expands to Ether

Published 06/14/2021, 02:00 PM
Updated 06/15/2021, 04:00 PM
Goldman Sachs’ crypto trading desk expands to Ether

United States investment bank Goldman Sachs (NYSE:GS) is planning to offer Ether (ETH) derivatives products in the coming months, setting the stage for wider adoption of the second-largest cryptocurrency and marking a significant departure from the institution’s critical stance on digital assets in the past.

Mathew McDermott, Goldman’s managing director of digital assets, confirmed Monday that the investment bank is expanding into Ether options and futures. In an interview with Bloomberg News, McDermott said institutional demand for cryptocurrencies will continue to grow despite the recent bout of market volatility:

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