Coindesk Logo

Goldman Sachs Relaunching Crypto Trading Desk After 3-Year Pause

Goldman Sachs Relaunching Crypto Trading Desk After 3-Year Pause

Goldman Sachs Relaunching Crypto Trading Desk After 3-Year Pause

Goldman Sachs may pursue a bitcoin ETF as it deepens its push into digital assets.

Goldman Sachs may pursue a bitcoin ETF as it deepens its push into digital assets.

Goldman Sachs may pursue a bitcoin ETF as it deepens its push into digital assets.

AccessTimeIconMar 1, 2021, 5:50 PM
Updated Aug 19, 2021, 7:37 AM

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Investment bank Goldman Sachs has relaunched its cryptocurrency trading desk after a three-year hiatus and plans to once again support bitcoin futures trading, a source familiar with the matter confirmed to CoinDesk. Contrary to an earlier report by Reuters, the source said the service would resume in mid-March, not next week.

The desk is part of a broader push into digital assets that may see Goldman attempt to stage a bitcoin exchange-traded fund, Reuters said. It will be a part of Goldman's U.S. Global Markets division.

The bank had originally planned to launch a crypto desk in 2017 but shelved those plans in 2018 due to regulatory concerns.

CoinDesk reported in January that Goldman was looking to re-enter the cryptocurrency industry, including with a custody offering, within the coming months.

The move follows fellow megabank BNY Mellon announcing last month a crypto custody service, reportedly in partnership with Fireblocks. Once BNY Mellon is holding bitcoin on clients' behalf, it may roll out additional services, the bank suggested in an interview with CoinDesk.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.