Goldman Sachs Offers Bitcoin Derivatives, Unveils Cryptocurrency Trading Team

Goldman Sachs Offers Bitcoin Derivatives, Unveils Cryptocurrency Trading Team

Goldman Sachs is offering non-deliverable forwards based on bitcoin’s price and unveiled a new desk that’s trading bitcoin derivatives.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....


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