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Goldman Sachs Settling Crypto ETPs In Europe: Coindesk

·1-min read
  • According to Coindesk, Goldman Sachs Group Inc’s (NYSE: GS) brokerage division is settling cryptocurrency exchange-traded products (ETPs) for its European hedge fund clients.

  • The bank is currently offering the service to a limited number of clients and aims to roll them out to a broader customer base soon.

  • In March, the bank restarted its cryptocurrency desk amid growing interest in Bitcoin (CRYPTO: BTC).

  • Bank of America Corp (NYSE: BAC) has also been offering cryptocurrency ETPs for hedge funds.

  • Bank of America has approved the trading of Bitcoin futures and is clearing cash-settled contracts.

  • Other banks like Morgan Stanley (NYSE: MS) and JPMorgan Chase & Co (NYSE: JPM) have also started giving clients access to crypto funds.

  • In the month of June, ETC Group launched the first bitcoin ETP in the U.K. on the Aquis Exchange in London.

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