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Goldman Sachs will begin trading OTC Ether options

Updated: Aug 31, 2024
Published: Apr 6, 2022
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According to a report by Bloomberg, Goldman Sachs plans to offer over-the-counter trading of Ether options and has seen increased client interest.

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Goldman Sachs will launch OTC Ether Options

During a webinar for clients, Goldman announced that it plans to introduce cash-settled Ether options as client interest in Ether has increased. The bank executive also noted that the upcoming merge event, which will see the Ethereum blockchain move from Proof of Work to Proof of Stake, has led to increased customer demand.

Goldman traded its first over-the-counter bitcoin options last month as part of a partnership with Galaxy Digital to offer bilateral crypto options to institutional clients. However, Bloomberg's report does not indicate whether this will also apply to OTC Ether options.

The bank's attitude toward crypto has evolved

It's worth noting that Goldman was one of the most vocal critics of cryptocurrencies until recently, but is now one of several Wall Street giants to change its mind. The bank has established a crypto trading team and has been offering bitcoin derivatives since then, but will most likely offer more crypto products if clients show interest.

Recently, Goldman Sachs stated in a research note distributed by the bank's Managing Director of Global Markets, Bernhard Rzymelka, that the price of Ether (ETH) could reach $8,000 by the end of the year, demonstrating a shift in the way the crypto industry is viewed.

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