Goldman Sachs, one of Wall Street’s biggest banks, has reinstated its cryptocurrency trading desk.
According to a Reuters report, Goldman will start trading its own Bitcoin Futures, known as a non-deliverable forward early next week.
As reported, the Goldman Digital team will sit within the U.S. bank’s Global Markets division.
The news reflects Goldman’s growing involvement in the cryptocurrency market, including peeking there interest in offering cryptocurrency custody.
Goldman’s has increased it’s activities within the fast-growing digital assets sector, which also includes projects involving blockchain technology and Central Bank Digital Currencies (CBDC).
Additionally, the banking giant is currently exploring more Bitcoin-focused exchange-traded funds.
There has always been tons of speculation about Goldman venturing into the digital asset trading space, but there plans were unconfirmed.
Back in April 2019, the bank denied that it even intended to open a trading desk for cryptocurrencies.
Also back in May 2018 the investment bank hired its first “digital asset” trader, Justin Schmidt, to handle the daily operation. Schmidt previously worked as a trader at hedge fund Seven Eight Capital before leaving to join Goldman to trade cryptocurrencies.
