​​Goldman Sachs Begins Trading Ethereum-Linked Derivative Prod | Market Ranger

​​Goldman Sachs Begins Trading Ethereum-Linked Derivative Product.

Bloomberg reported on Monday that Goldman Sachs has begun trading a sort of derivative linked to Ethereum.

Goldman has started a derivatives product related to the price of ether, against a chaotic backdrop – the prospect of an ETH-linked derivative product was first suggested by the firm in June 2021.

This was Goldman’s first over-the-counter (OTC) non-deliverable forward (NDF) crypto trade on ether, according to a statement released on Monday, with Marex serving as the counterparty. The trade was organized by Marex Solutions, Marex’s hedging and investment solutions division.

A non-deliverable forward (NDF) is a derivative contract that allows the holder to gain exposure to an asset without actually owning it. This pays out in cash at the time of settlement, dependent on the price of ether.

Goldman’s action demonstrates institutional interest in cryptocurrencies at a time when the market is still reeling from the collapse of stablecoin TerraUSD (UST) and a bleak macroeconomic outlook.

*Source
** The provided information should serve as a research purpose only.

Earn money and share Market Ranger with your friends!