Goldman Sachs Hedge Fund Customers Expand Bitcoin Options Trading – Bloomberg

As interest in Bitcoin ETFs grows among Goldman Sachs hedge fund customers, demand for options trading is rapidly increasing.

According to Bloomberg on the 24th (local time), Goldman Sachs’ hedge fund clients, like retail traders, are showing renewed interest in cryptocurrency options. Interest in cryptocurrency has been rapidly increasing among Goldman Sachs’ hedge fund clients since the beginning of this year.

Max Minton, head of Goldman Sachs’ Asia Pacific digital assets division, emphasized in an interview that the recent approval of the Bitcoin spot ETF product has sparked interest in the cryptocurrency ecosystem. “With the recent ETF approval, we have seen a resurgence of interest and activity among our clients,” Minton said, adding, “Many of our larger clients are active or exploring activity in the cryptocurrency space.”

Bitcoin spot ETFs have caused a shortage of Bitcoin supply, pushing the price above $73,000, a new all-time high (ATH). This price rise is acting as an attractive factor for institutional investors to invest in Bitcoin through regulated ETFs.

Director Minton explained that traditional hedge funds are accepting the cryptocurrency options market through Goldman Sachs. It also confirmed that it is looking to expand its customer base to include banking customers and asset managers.

Goldman Sachs, one of the pioneers in Bitcoin options trading, predicted that Bitcoin would have a breakthrough in 2024. Goldman Sachs has created a product offering Bitcoin and Ethereum options trading in 2021.

Goldman Sachs is expanding its influence in the digital asset market by investing in companies with long-term growth prospects. “We have a portfolio to invest in when it makes strategic sense,” Minton said.