Goldman Sachs has announced that it plans to offer its clients over-the-counter options trading for Ethereum, taking into account the demand for Ethereum. As it is known, Ethereum is in the process of transitioning to the proof-of-stake model, which is a more environmentally friendly issuance method. Recently, the interest of major investors has been shifting towards the second largest cryptocurrency in the world. Last month, Goldman Sachs launched an over-the-counter options trading for Bitcoin (BTC) through digital fund manager Galaxy Digital.
Over-the-counter transactions, which are generally the subject of large-scale transactions, are mostly an investment product for institutional investors. The bank's offering of OTC crypto options is attributed to the growing interest of Goldman Sachs clients in crypto-asset investments.
According to a Bloomberg report, Andrei Kazantsev, the bank's head of global crypto trade, said that the bank plans to launch the product when the time comes. Goldman Sachs offering such a product for Ethereum will allow the crypto asset to become more accessible as an investment product.
While the investment bank offers services in crypto-backed asset ETF and options trading, it does not offer spot crypto trading. Thus, institutional investors generally want to use the assurance of large financial companies by investing in financial products based on crypto assets instead of investing directly in cryptocurrencies.
Ethereum (ETH), the largest altcoin, remains in the focus of investors before the Ethereum 2.0 update. Because after Ethereum 2.0, there are opinions that the value of the crypto asset will increase with the thought that the crypto asset will be more environmentally friendly production mechanism and more scalable. Staking, known as a method of earning returns by locking crypto assets for a certain period of time, also has the possibility of obtaining high returns in the Ethereum network. Accordingly, Ethereum is expected to become similar to bond products in traditional markets through proof-of-stake.
Ethereum (ETH), at the time of writing, changed hands at $ 3,351 and lost 5 percent in the last 24 hours.