{"id":188742,"date":"2018-10-31T13:11:13","date_gmt":"2018-10-31T17:11:13","guid":{"rendered":"https:\/\/insidebitcoins.com\/news\/goldman-sachs-quietly-onboarding-clients-for-bitcoin-derivatives-market\/188742"},"modified":"2021-08-03T03:30:09","modified_gmt":"2021-08-03T07:30:09","slug":"goldman-sachs-quietly-onboarding-clients-for-bitcoin-derivatives-market","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/goldman-sachs-quietly-onboarding-clients-for-bitcoin-derivatives-market","title":{"rendered":"Goldman Sachs Quietly Onboarding Clients for Bitcoin Derivatives Market"},"content":{"rendered":"

\"\"<\/p>\n

New York banking giant Goldman Sachs is quietly onboarding clients for its new Bitcoin derivatives product. Representatives from the firm report that despite excitement in the cryptocurrency community for the new rollout, Goldman is in no rush to push additional cryptos like Ether<\/a> into market. Nevertheless, this potentially marks an important moment, as Goldman has long been considered one of the major financial institutions whose involvement in crypto could inspire the next market boom<\/a>.<\/p>\n

Goldman Sachs\u2019 Bitcoin Derivatives Market<\/strong><\/h3>\n

While Goldman has yet to officially launch its Bitcoin derivatives trading facility, The Block<\/em> reports<\/a> that the bank has already signed up a \u201csmall number of clients.\u201d\u00a0Bitcoin derivatives are currently available on several regulated US trading exchanges, including Chicago Mercantile Exchange (CME) and Chicago Board Options Exchange (CBOE). Both these firms currently offer cash-settled Bitcoin futures contracts, and CBOE has publicly expressed the desire to remain a leader in the cryptocurrency derivatives marketplace. CCN<\/em> reports<\/a> that CME has become \u201cless-than-enthusastic\u201d about the crypto industry, shortly after the exchange launched an Ether price reference rate.<\/p>\n

Other players in the market include LedgerX and crypto startup Baakt. LedgerX currently offers a wide range of crypto products, and is reportedly building support for Ether markets as well, pending approval from the Commodity Futures Trading Commission. Meanwhile, Baakt is scheduled to launch its first Bitcoin futures product on December 12th of this year. The startup is headed by the owner of the New York Stock Exchange (NYSE) and has made key partnerships with massive companies like Microsoft and Starbucks<\/a>. CCN<\/em> reports that unlike the CME and CBOE, Baakt\u2019s Bitcoin product will be physically-settled when contracts expire.<\/p>\n

It appears that Goldman is largely set on testing the waters before pushing any other cryptocurrency products. A source from the firm said that Goldman\u2019s clients are not necessarily looking for new products, but this doesn\u2019t mean they aren\u2019t interested in the market. The source added that customers are regularly calling senior bankers seeking advice on where the crypto market is going and how they can get involved.<\/p>\n

In contrast, Larry Fink, the CEO of $6 trillion asset-manager BlackRock<\/a>, recently said in July that not a single one of the firm\u2019s clients have expressed interest in Bitcoin markets<\/a>.<\/p>\n

\u201cI don\u2019t believe any client has sought out crypto exposure,\u201d Fink said. \u201cI\u2019ve not heard from one client who says, \u2018I need to be in this.\u2019\u201d<\/p>\n

The post Goldman Sachs Quietly Onboarding Clients for Bitcoin Derivatives Market<\/a> appeared first on UNHASHED<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

New York banking giant Goldman Sachs is quietly onboarding clients for its new Bitcoin derivatives product. Representatives from the firm report that despite excitement in […]<\/a><\/div>","protected":false},"author":1316,"featured_media":188745,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-188742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news"],"acf":[],"yoast_head":"\nGoldman Sachs Quietly Onboarding Clients for Bitcoin Derivatives Market - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"New York banking giant Goldman Sachs is quietly onboarding clients for its new Bitcoin derivatives product.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/188742\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Goldman Sachs Quietly Onboarding Clients for Bitcoin Derivatives Market\" \/>\n<meta property=\"og:description\" content=\"New York banking giant Goldman Sachs is quietly onboarding clients for its new Bitcoin derivatives product.\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2018-10-31T17:11:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-03T07:30:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2018\/10\/Bitcoin-2-1-1-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1154\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Jacob Godshall\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jacob Godshall\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/188742#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/188742\"},\"author\":{\"name\":\"Jacob Godshall\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/23fded23d5ae1622d9eb517e4d3334f9\"},\"headline\":\"Goldman Sachs Quietly Onboarding Clients for Bitcoin Derivatives Market\",\"datePublished\":\"2018-10-31T17:11:13+00:00\",\"dateModified\":\"2021-08-03T07:30:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/188742\"},\"wordCount\":426,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/188742#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2018\/10\/Bitcoin-2-1-1-1.png\",\"articleSection\":[\"More Crypto News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2018\",\"copyrightHolder\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/188742\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/188742\",\"name\":\"Goldman Sachs Quietly Onboarding Clients for Bitcoin Derivatives Market - 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