Goldman Sachs Group (NYSE:GS) is now allowing Wall Street investors to trade with a derivative tied to bitcoin prices.
Goldie opened up trading with non-deliverable forwards that eventually pay out in cash.
The big Wall Street firm, and 5th largest US bank, will protect itself from the cryptocurrency’s volatility by buying and selling Bitcoin futures in block trades on CME Group (NASDAQ:CME) using Cumberland DRW as its trading partner, according to the report.
Goldman declined to comment when asked to confirm.
Have a healthy day, Keep the Faith!