Goldman Sachs announces settlement of futures contracts on Bitcoin for selected customers!

Goldman Sachs announced plans to settle Bitcoin futures for selected clients, according to Bloomberg.

Settlement of futures contracts on Bitcoin

Settlement of futures contracts can create a smoother and more efficient market in the unstable world of cryptocurrencies. Derivatives allow investors to play BTC without buying real assets. CBOE Futures Exchange will offer Bitcoin futures from December 10, while the CME Group will present its derivatives on December 18.

Futures markets for commodities such as oil and copper would not make much sense without large banks and brokerage firms. As digital currencies enter the futures market, derivatives operators will help to connect the world of cryptocurrencies with traditional banking products.

Tiffany Griffin, spokeswoman Goldman Sachs said:

Considering that this is a new product, as expected, we assess the specifications and risks associated with Bitcoin futures as part of the standard due diligence process.

BTC futures contracts for selected

Goldman Sachs is still researching his role in other aspects of the world of cryptocurrencies, such as creating a market. Market makers assume the risk of holding large amounts of securities and the smooth functioning of financial markets. They satisfy the supply and demand for assets and maintain the flow of securities between buyers and sellers. However, Goldman Sachs will decide which clients will be able to trade Bitcoin futures contracts, according to the Bloomberg source.

Just last week, Goldman chairman Lloyd Blankfein said it was too early to create a strategy for Bitcoin. "Something that moves up and down by 20 percent in one day does not seem like a currency, it does not seem like a value asset," said Blankfein for Bloomberg TV.