Goldman Sachs Clients Eager To Trade Bitcoin Derivatives, But Patient To Launch New Products
In a recent report published by The Block, it has been noted that renowned investment bank, Goldman Sachs does not plan to launch new products when it comes to cryptocurrencies.
Goldman Sachs has made several headlines for having settled in the sidelines in spite of their vocal support for the digital asset. In May 2018, the bank revealed plans for a trading desk specifically for cryptos. Later, they emphasized that the product under consideration is that of a Bitcoin Non-deliverable Forward Contracts (NFC), which are typically settled in cash and kept for shorter periods of time.
An unnamed source close to the endeavor noted that the investment bank has been making ongoing efforts to bring together clients who would trade the product, with the hope that it could potentially lead to custodian services.
Sometime this month, an assumption regarding Goldman Sachs next product was made, in which Abacus Journal expressed that the investment bank will be offering the same NFC, but for ether, but this has since been shut down by another unnamed source as per The Block.
Will Goldman Sachs launch another, similar product? As per the claims made, the investment bank does not plan to due to the fact that its clients aren’t necessarily proposing it, but instead are seeking advice on what might come out of the crypto sphere. Clearly, there still remains a lot of educating that needs to be done, especially in the case of said clients. This is a good sign, as it indicates some spark in curiosity.