Goldman Sachs Completes First Over-the-Counter Options Trading on Galaxy – Bits Media

One of the largest US investment banks, Goldman Sachs, was one of the first to conduct an over-the-counter transaction using an option on cryptocurrency.

Goldman Sachs carried out the first over-the-counter (OTC) trading options on Galaxy digital currency. The transaction was completed in collaboration with crypto investment management company Galaxy Digital, owned by Michael Novogratz (Michael Novogratz).

According to the announcement, the OTC transaction was provided in the form of a non-deliverable option (NO) of bitcoin. Goldman Sachs Asia Pacific Head of Digital Assets Max Minton (Max Minton) noted, that this event marks an important milestone in the investment bank’s digital asset capabilities.

In the middle of last year, an American bank announced, that it plans to launch trade in futures and options for Ethereum. A bank representative told, that the company sees strong interest in cryptocurrency trading from clients and adoption from institutional investors.

According to Galaxy Digital Global Markets Head Damien Vanderwilt (Damien Vanderwilt), cryptocurrencies are becoming an important asset class, Customer demand for them is growing very quickly. At Galaxy and Goldman Sachs, Vanderwilt says, hope, that the first transaction will inspire other banks, considering over-the-counter transactions for trading digital assets.

Recall, Last September, Galaxy Digital entered into a partnership with asset management company Invesco, within which several exchange traded funds will be launched (ETF) to cryptocurrencies.