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Goldman Sachs (NYSE:GS) Offers Bitcoin Derivatives to Clients

#bitcoin #derivatives #investors

$GS $BTCUSD $CME

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!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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