Goldman Sachs is an investment bank operating from the USA, which allows its clients to have some real investment based opportunities. Due to the rising corporate concern in 2018, the bank did open a cryptocurrency desk at its physical locations to help people regarding cryptocurrency buying/selling and investing opportunities. But it did close shortly after. Now, it is looking to reopen its crypto trading desk after being originally opened in 2018. The decision comes from the rising corporate interest among Bitcoin, and the reopening will take place next week.
Raving Information Regarding Crypto Trading Desk at Goldman Sachs
According to the reports, the trading desk will be available in Goldman’s sector for digital assets. There are other projects available regarding blockchain and cryptocurrency, along with a random interest among the altcoins as well. Goldman Sachs will be offering exchange-traded-funds for Bitcoin along with non-deliverable-forwards to its clients.
The very reason why the trading desk regarding cryptocurrency is opening up is due to the fact that cryptocurrency has cracked out of its shell about 470%, which is nothing less of an accomplishment. Many corporates and notable financial institutions are investing heavily in Bitcoin but trying their best to acquire as many tokens as they can because it is seen as leverage against inflation that will take over the fiat currency and render it useless one day.
Cryptocurrency a Vessel of Prosperity or Still a Sinking Ship, According to Institutional Investors
No matter what accomplishments have been achieved by cryptocurrency or Bitcoin in general, there is one shred of truth that still remains and is not ignorable, which is the very fact that Bitcoin or every other cryptocurrency, for that matter, remains volatile. There is no proof that it will remain consistent if more institutions started to invest in it; therefore, Goldman’s playing strategy is to offer its clients NDFs that might prove as a struggle the bank is putting out in terms of mitigating the risks that come with such investment.
Back in 2018, Goldman did open the trading desk for cryptocurrency, but then Bitcoin’s price was dropping like never before, which resulted in hitting a heavy blow to the crypto market and closing this crypto desk at Goldman Sachs for good. But with rising prices and the interest of investors have again instilled the reopening of the trading desk at Goldman, which is considered to become successful this time.