Goldman Sachs completes first OTC Bitcoin options trade with Galaxy Digital - BitcoinEthereumNews.com
गोल्डमैन सैक्स executed its first-ever over-the-counter crypto options trade earlier today, marking an important milestone in the expansion of its digital asset offering. The U.S. bank की घोषणा that it was exploring the provision of bilateral crypto options earlier this month, but didnt reveal any details about when such a transaction could happen. A cash-settled Bitcoin option, right at Goldman Sachs से एक रिपोर्ट के अनुसार ब्लूमबर्ग, Goldman Sachs traded a non-deliverable Bitcoin option, a derivative tied to Bitcoins price that pays out in cash. The transaction itself was facilitated by गैलेक्सी डिजिटल, a crypto merchant bank managing over $2.8 billion in digital assets. While Bitcoin options have long become the norm in the crypto market, an options contract paid in cash in an over-the-counter trade is anything but the norm. This is the first time a major bank in the U.S. conducted such a transaction and is set to pave the way for other institutional investors to enter the crypto market. Unlike other exchange-based Bitcoin products currently available on the market, Goldman Sachs latest Bitcoin option put almost the entirety of the risk of the transaction onto the bank itself. The trade-off, however, seems to be worth it for Goldman. Damien Vanderwilt, the co-president