In the latest development, the Wall Street giant and a crypto backer, Goldman Sachs, announced that it is all set to offer its Bitcoin derivatives to its clients. It comes after the company’s top officials revealed their plans to offer BTC-related investment options to its rich wealth management customers.
According to a Bloomberg report, the firm will allow their clients to access NFDs – a derivative related to the world’s famous cryptocurrency price but pays out in fiat currency.
Besides that, by selling and buying CME BTC futures, the company also managed to save itself from the highly volatile nature of Bitcoin. While talking to Bloomberg about its plans to offer non-deliverable forward, Goldman Sachs’s Max Minton said,
Institutional demand continues to grow significantly in this space, and being able to work with partners like Cumberland will help us expand our capabilities. The new offering is “paving the way for us to evolve our nascent cash-settled crypto-currency capabilities.
As the crypto-assets continue to jump to new heights since the beginning of this year, many crypto critics have now acknowledged that these digital assets are not going anywhere.
In addition to that, the mainstream adoption of the currency and related products by America’s top money market players, including Morgan Stanley, and JPMorgan, suggests that Bitcoin’s adoption is inevitable.
