Goldman Sachs starts trading ETH-based derivatives


According to a statement from London-based Marex Financial, Goldman Sachs has extended its client-facing crypto offering with ether (ETH)-linked derivatives product.

As a torrent of institutional capital entered the market in 2021, the investment bank relaunched its crypto operations, with derivatives related to cryptocurrencies such as bitcoin being the foundation of its offers.

Now, against a turbulent background, Goldman has launched a futures product tied to the price of ether; the firm initially broached the idea of an ETH-linked derivative product in June 2021.

According to a Monday statement, this was Goldman’s first over-the-counter (OTC) non-deliverable forward (NDF) crypto deal on ether, with Marex serving as the counterparty. Marex Solutions, which provides hedging and investing solutions, orchestrated the deal.

A NDF is a derivative instrument that provides exposure to an asset without requiring the investor to keep it. This pays out dependent on the ether price at the time of settlement.

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