Goldman Sachs Group Inc. on Friday revealed details on its cryptocurrency trading group, according to a staff memo seen by Reuters.
The trading group, whose formation Reuters reported in March, has been buying and selling bitcoin futures on CME Group and non-deliverable forwards, according to the memo.
The announcement is further evidence that Wall Street is accepting and adopting the digital currency. It follows rival bank Morgan Stanley’s move to offer its wealth management clients access to bitcoin funds in recent months.
The two derivatives the trading group is handling allow investors to take a view on bitcoin’s future price. The contracts are settled in cash and Goldma…
Keep on reading: Goldman launches cryptocurrency trading team – memo