Goldman Sachs Offers Ethereum Cryptocurrency Investments To Customers

This US bank offers Ethereum crypto investment to its customers (Forbes)

JAKARTA – One of the largest banks in the United States (US) Goldman Sachs is rumored to be offering Ethereum (ETH) crypto investment to its customers. Previously, Goldman Sachs had provided Bitcoin (BTC) investment offers for certain customers.

Launching Bitcoin News, the bank said that “institutional adoption will continue” despite the recent correction in the crypto market. However, Goldman Sachs sees considerable interest in investing in cryptocurrencies such as Bitcoin and Ethereum.

"Despite the price correction, we see great demand in this area," said Goldman Sachs.

According to a Bloomberg report, Goldman Sachs head of digital assets Mathew McDermott has stated that the global investment bank will offer futures and options trading in Ethereum. The plan will be implemented in the coming months.

“We have actually seen a lot of interest from clients looking to trade as they find this move a better entry point (for crypto investments). We see it as a cleaning exercise to reduce some of the leverage and overload in the system, especially from a retail perspective,” said McDermott.

The Goldam Sachs official also stated that his party plans to offer digital asset trading on the Bitcoin exchange. In early May, Goldman Sachs officially formed a cryptocurrency trading team after the institutional demand for crypto was sizable.

The bank also said that currently Bicoin is a new asset class that is in great demand. They have invested US$15 million into data provider Coin Metrics. Therefore, McDermott looks at a number of different companies "that fit our strategic direction."

In addition, Goldman Sachs explains that institutional interest in Bitcoin has grown significantly. The bank has conducted a survey last week. From the survey they found that one in 10 respondents traded crypto money, while as many as 20 percent were interested in investing in crypto assets.

“Institutional adoption will continue. Despite the material price correction, we continue to see significant interest in this (cryptocurrency investment) realm.”