Goldman Sachs Starts Limited Signups for a New Trading Product
A report issued by The Block states that the investment bank has started a sign-up period for a limited number of customers that will be able to trade its cash-settled product. The product is an offshoot, non-deliverable, and while similar to futures contracts, it does not trade on exchanges. The report also alleges that the bank is considering starting a crypto custody service.
This report conflicts with another report from a different website that claimed the bank is looking into creating a non-deliverable forward for ether. If this claim is true, it would have been a massive point in favor of alternative coins in general and Ethereum in particular. Ethereum is still attempting to get the amount of exposure that BTC acquired during the past year. Nevertheless, this claim about altcoins was later denied.
Crypto Derivatives Platforms
Meanwhile, the derivatives from BTS are accessible on multiple legalized trading platforms in America. These platforms include CME & CBOE, both of which present their clients with the opportunity to trade using BTC futures contracts. Both firms are also expected to develop a variety of offerings. CME’s public statements reflect an disinterested attitude towards the crypto sphere. Nevertheless, they have declared a rate for reference in ETH price. On the other hand, CBOE has clearly stated that it wants to continue leading the way in the crypto derivatives industry.
An institutionalized platform focused on crypto derivatives and offering a set of BTC products, LedgerX, is reported to be supporting ether as it awaits approval from the CFTC. Alternatively, a crypto startup called Bakkt is gearing up for the launch of its first BTC futures product. The product shall be on the market by December 12 and it will be settled in the flesh, due to the fact that they are creating real bitcoins that will be exchanged at the end of the contracts.