Goldman Sachs to offer OTC Ether options trading amid client demand

Multinational investment bank Goldman Sachs plans to provide clients with over-the-counter options trading of Ethereum, Bloomberg reported Tuesday as the source of the news.

Citing growing client demand, Goldman’s Head of Crypto Trading Andrei Kazantsev said during a client webinar that the company will launch cash-settled Ether options “in due course.”

As of now, Ethereum has a market capitalization of more than $402 billion. Second only to Bitcoin, the decentralized protocol offers smart contracts functionality that allows developers to create self-executing decentralized applications.

George Lewin-Smith, an associate at Goldman Sachs’ digital assets team, noted that clients have increasingly shifted their attention to Ethereum, which is seen as “more of an investable asset class” now. The news came as Ethereum looks forward to its next big upgrade, the “Merge,” which will shift the platform from a proof-of-work model to proof of stake.

Goldman Sachs recently executed its first over-the-counter (OTC) Bitcoin transaction in partnership with Galaxy Digital Holdings. The move made Goldman the first major US bank to offer this kind of exposure to the crypto market.

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