CoinShots Logo
Goldman Sachs Executes Its First Trade of Ether-Linked Derivative
London-based Marex Financial was the counterparty for the trade.
Ankita K.
12:00 13th Jun, 2022
Adoption

Goldman Sachs (GS) has started trading a type of derivative tied to ether (ETH), Bloomberg reported on Monday,

The Wall Street giant executed its first Ethereum non-deliverable forwards, a derivative that pays out based on the price of ether and offers institutional investors indirect exposure to the cryptocurrency, the report said.

London-based financial services firm Marex Financial was Goldman’s counterparty, the report added.

The move by Goldman indicates institutional appetite for cryptocurrencies at a time when the market is reeling from the fall of stablecoin TerraUSD (UST) and poor macroeconomic outlook.

The overall market cap for cryptos tumbled to below $1 trillion for the first time in nearly 18 months on Monday, with ether shedding nearly 17% in the past 24 hours.

Goldman Sachs and Marex Financial were not immediately available for comment.

Source



CoinShots Logo

Social

Get in touch:

© 2022 Coinshots (AtlasZero LLC). All rights reserved.