Goldman Sachs has created a crypto trading desk and successfully executed two bitcoin-linked derivatives, according to CNBC. The crypto team is under the bank’s global currencies and emerging markets trading division.
Goldman’s crypto team will report to bank partner Rajesh Venkataramani and is part of the institution’s pursuits of digital assets.
Goldman has been exploring a bitcoin trading desk for more than three years and tabled those plans in March
Entry into cryptos seeks to enhance Goldman’s market depth by “selectively onboarding” other institutions.
The bank said it initiated a software platform to provide crypto news and prices.
Goldman and rival Morgan Stanley have been considering bitcoin investments for wealthy clients but have stayed away due to the volatile nature of the digital asset.
Goldman stock is currently gaining. GS: NYSE is up 0.83%
