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Goldman Sachs to trade Bitcoin futures for clients

Goldman Sachs, the global finance market’s second largest investment bank behind JPMorgan. Since it will debut Bitcoin futures in the coming weeks after major exchanges list the products.

The company said trades made by Goldman Sachs on behalf of its clients would be processed on a case-by-case basis. This is according to a source familiar with the company’s short-term plan on the futures product.

Also Read: South Korean Government prohibits Bitcoin Futures trading

Goldman Sachs spokeswoman Tiffany Galvin said the bank was evaluating specifications. Besides, risk attributes as part of their due diligence process while Goldman Sachs chairman and CEO Lloyd Blankfein said if Bitcoin works well they would “get to it.”

He said last month in an interview that it was too early and his bank needed a Bitcoin strategy. He said he did not consider Bitcoin a store of value. Thus, that he did not trust cryptocurrency though he didn’t mean they would fail.

He said,

“The list of things that are conventional today that I use every day that I thought would never make it is a very long list”.

 

 

 

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David

David Kariuki is a journalist who has a wide range of experience reporting about modern technology solutions including cryptocurrencies. A graduate of Kenya's Moi University, he also writes for Hypergrid Business, Cryptomorrow, and Cleanleap, and has previously worked for Resources Quarterly and Construction Review magazines.

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