Goldman Offering Bitcoin Derivatives – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides


Goldman Sachs launched a derivatives product based on the price of bitcoin for its clients last month, though it did not announce the move at the time.

“The investment bank has opened up trading with non-deliverable forwards, a derivative tied to bitcoin’s price that pays out in cash,” Bloomberg reported. “The firm then protects itself from the digital currency’s famous volatility by buying and selling bitcoin futures in block trades on CME Group Inc., using Cumberland DRW as its trading partner.”

Non-deliverable forwards entail contracts between two parties that will settle the difference between the spot price and the contracted price at a certain date in the future. The product essentially gives Goldman clients the ability to speculate on bitcoin’s future price, an increasingly popular offering.

“Institutional demand continues to grow significantly in this space, and being able to work with partners like Cumberland will help us expand our capabilities,” Goldman’s Asia-Pacific head of digital assets, Max Minton, told Bloomberg. “The new offering is ‘paving the way for us to evolve our nascent cash-settled cryptocurrency capabilities.’”

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