The rising price of Bitcoin and clients demand is responsible for the plan to commence the cryptocurrency trading desk of Goldman Sachs. The American investment Bank stated that 40% of its customers are already exposed to digital currencies.
The company’s global head of digital assets, Matt McDermott stated that the company’s digital asset trading desk for Bitcoin futures with CME shall be launched on its digital currency dedicated platform.
The product would be narrow initially comprising mainly the CME BTC futures. The company plans to serve its institutional clients via Marquee, its sister platform.
The resolution to start offering cryptocurrency related services is mainly due to customers’ demand for it. The report stated that a survey of 300 customers showed that there has been a steady increase in interest in this class of assets.
How are institutional investors trading cryptocurrency? Mathew McDermott, Head of Digital Assets for $GS‘ Global Markets Division, weighs in: https://t.co/oYfF9BtJ6u pic.twitter.com/6wzBpqJSs5
— Goldman Sachs (@GoldmanSachs) March 6, 2021
The survey showed that 76% of clients believe that Bitcoin would end 2021 between $50,000 – $100,000. 61% are of the opinion that holding in cryptocurrency assets will increase 12 months from now.
