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Goldman Sachs to offer over-the-counter crypto options trading

The bank traded a non-deliverable Bitcoin option, a derivative tied to Bitcoin's price that pays out in cash, it said in a statement

Goldman Sachs | Photo: Bloomberg
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Goldman Sachs | Photo: Bloomberg

Bloomberg
Goldman Sachs Group Inc. executed its first over-the-counter crypto options trade, a further step in its expansion of digital-asset offerings to Wall Street investors.

The bank traded a non-deliverable Bitcoin option, a derivative tied to Bitcoin’s price that pays out in cash, it said in a statement. The transaction was facilitated by Galaxy Digital Holdings Ltd., a crypto financial-services firm started by former Goldman partner Michael Novogratz. Options are used by crypto investors to hedge risks or boost yields, and over-the-counter transactions are typically larger trades negotiated privately.

The move marks the first such transaction by a major bank in the U.S.,

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First Published: Mar 21 2022 | 9:09 PM IST

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