Goldman Sachs is a key player in the finance industry and as per recent reports, they are also one of the main financial institutions looking to get involved in cryptocurrency trading. Although an initial interest has been shown in Bitcoin futures, that will not be the only product type the firm aims to pursue.

What is Goldman Sachs Planning?

For a company that has opposed Bitcoin for so long, it is interesting that Goldman Sachs has changed its stance towards cryptocurrencies as of late. Currently, Sachs is mainly interested in cryptocurrency futures. Not entirely surprising, considering how other service providers provide this option as well. To stand out among other platforms, however, Goldman Sachs will need to look for other solutions as well. Which form those solutions will take, remains to be determined

For the time being, these products are only being contemplated and nothing as of yet has been set in stone. Goldman Sachs is actively looking at feedback from its clients to determine which direction they need to head in. The bank’s clients have been exploring cryptocurrencies over the years and thus it is only normal that financial institutions follow suit.

Making such a difficult decision will not be easy. The cryptocurrency industry is still largely unregulated, even in the United States. That situation will not come to change overnight by any means. Even so, a profitable opportunity presents itself at a critical time for the industry. With all major currencies currently laying low, the room for profit and growth only becomes more apparent.

Final Thoughts

It remains to be seen how institutional money affects the cryptocurrency sector as more money can yield higher prices, but also introduce more volatility and speculation. Considering how Bitcoin and other currencies need to evolve from being an investment vehicle to an actual currency, it is possible that institutional money will prevent that change from happening altogether.

Image courtesy: Shutterstock.com


Looking to advertise? We will gladly help spread the word about your project, company, or service. CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio. Contact us if you have any questions: [email protected]

LEAVE A REPLY

Please enter your comment!
Please enter your name here