Goldman Sachs Group Inc’s prime brokerage division is clearing and settling cryptocurrency exchange-traded products (ETPs) for a few of its European hedge fund purchasers, Coindesk reported on Friday, citing folks aware of the matter.
The companies are presently being supplied to a restricted variety of purchasers and the financial institution is contemplating rolling them out for a broader buyer base, the report stated.
Goldman Sachs declined to touch upon the matter.
The U.S. lender in March restarted its cryptocurrency desk amid rising curiosity by establishments in bitcoin, and stated it was methods to cater to a surge in demand to personal and spend money on the preferred cryptocurrency.
Goldman Sachs is one in all a number of mainstream monetary corporations that has dived into the crypto house, regardless of wild worth swings and widening regulatory crackdown on the digital belongings.
Rival banks Morgan Stanley and JPMorgan Chase & Co have additionally began giving purchasers entry to crypto funds, based on media stories.Previous