Goldman Sachs Group Inc will reopen its cryptocurrency trading division, Reuters reported, citing sources. According to them, starting next week, the bank will offer its clients transactions with bitcoin futures and non-deliverable forwards.
The cryptocurrency team will become part of the Global Markets division. Goldman Sachs is also exploring the potential of a Bitcoin Exchange Traded Fund (ETF) and has issued a request for information to enter the digital asset custody business, the source said.
Goldman Sachs opened a cryptocurrency trading division in 2018 at the same time bitcoin began to decline from all-time highs at the end of 2017.
In January, Goldman Sachs analysts said that institutional investor participation in the cryptocurrency market was still negligible.
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