- The bank informed its markets personnel that a newly created cryptocurrency desk had successfully traded two kinds of bitcoin-linked derivatives, according to an internal memo obtained exclusively by CNBC.
- The crypto team exists within the firm’s global currencies and emerging markets trading division, reporting to Goldman partner Rajesh Venkataramani, who wrote the memo.
- Goldman said it is also seeking to broaden its market presence by “selectively onboarding” crypto trading institutions to expand offerings.
By Natasha Turak | 7 May 2021
CNBC — Goldman Sachs has formally kicked off the cryptocurrency trading era on Wall Street.
The bank informed its markets personnel on Thursday that a newly created cryptocurrency desk had successfully traded two kinds of bitcoin-linked derivatives, according to an internal memo obtained exclusively by CNBC.
Goldman Sachs, a dominant global investment bank for trading fixed income and equities, had been mulling the creation of a bitcoin trading desk since at least 2017. The firm tabled those plans initially and restarted the crypto trading team in March, Reuters reported earlier this year. Thursday’s memo was the first time New York-based Goldman officially acknowledged its involvement in crytpocurrency trading. […]