Goldman Sachs Confirms Launch of Bitcoin Futures Trading Desk

Multinational investment bank Goldman Sachs has recently confirmed that it will be launching a Bitcoin trading desk in response to client demand for cryptocurrency services.

In a major step forward that represents the first official Bitcoin trading operation at a Wall Street bank, Goldman Sachs confirmed on Wednesday that it will begin to leverage its own capital to trade in a variety of investment contracts linked to Bitcoin, and potentially trade Bitcoin directly in the near future.

Goldman Sachs CEO Lloyd Blankfein confirmed that the investment bank would begin clearing futures in Bitcoin for “some futures clients” earlier this year, leading to rampant speculation amongst the cryptocurrency community that the launch of a dedicated Bitcoin desk was on the horizon.

Goldman Sachs Pivots on Crypto
The launch of the Bitcoin trading desk is a significant change in position from the Goldman Sachs CEO, who stated in an interview with Bloomberg last year that the digital currency was a “vehicle to perpetrate fraud.”

Rana Yared, a Goldman Sachs executive charged with overseeing the establishment of the new Bitcoin trading operation, stated in an interview with the New York Times that the organization has adopted a careful stance on the cryptocurrency:

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