Investment bank mastodont Goldman Sachs has rebooted its cryptocurrency trading desk service after a three-year pause and intends to endorse Bitcoin futures trading once again, an unnamed source acquainted with the issue confirmed to CoinDesk. Contrasting to an earlier article published by Reuters, the source confirmed that the service would be reinstated in the middle of March, not next week as previously thought.
The service is a part of a wider push into digital assets that may lead to Goldman bidding to stage a Bitcoin fund based on exchange-trade, Reuters writes. It will be under the wing of Goldman’s notorious U.S. Global Markets department.
The bank had initially intended to launch a crypto desk service back in 2017 but postponed these plans a year later citing regulatory concerns.
In January Goldman announced it is looking to re-emerge in the cryptocurrency industry, including by offering a custody service, within the next few months.
The move comes after fellow investment banking institution BNY Mellon introduced a crypto custody service last month, apparently in partnership with the company Fireblocks. Once BNY Mellon is shouldering Bitcoin on clients’ behalf, it will likely roll out supplementary services, the bank hinted in a recent statement.
We remind that just a few days ago another Goldman competitor, JPMorgan, issued advice to investors to invest 1% of their portfolio in Bitcoin.
