Goldman Sachs Group Inc. restarts crypto trading amid a sharp rise in the value of bitcoin.
March 2, 2021 | AtoZ Markets – Goldman Sachs Group Inc. will launch trading in cryptocurrency assets in the near future. The company said in a statement that Bitcoin futures trading will be available as early as mid-March.
Goldman Sachs has restarted its cryptocurrency trading desk and will begin dealing #Bitcoin futures and non-deliverable forwards for clients from next week, a person familiar with the matter said. 📈📉🏦— Anna Irrera (@annairrera) March 1, 2021
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This decision was made after a record rise in the price of a cryptoasset to $58,000. A spokesman for Goldman Sachs Group Inc declined to comment on the topic, Bloomberg reported .
Canadian ETFs that have offered clients to trade cryptocurrency assets have already reported record profits since the beginning of the year. Thus, the exchange-traded bitcoin fund Purpose announced an increase in trading volumes of $165 million. Such results were achieved after the price of the main cryptocurrency exceeded the $51,000 mark .
Counterpoint Global, a division Morgan Stanley Investment Management, which manages investments worth about $150 billion, is considering purchasing Bitcoins as an investment asset.
Cryptocurrency ETFs are still under scrutiny
Despite the fact that the popularity of bitcoin among institutional investors continues to increase, the authorities are in no hurry to give the green light to cryptocurrencies. So, the US government has not yet decided whether it is worth allowing such a fund to work or not. Bank experts JPMorgan also believe that the exchange-traded fund (ETF), focused on Bitcoin, can badly affect the future cryptocurrency prices.
Read also: CBOE Applies With US SEC to List Bitcoin ETF
And the Swedish financial regulator called for the isolation of private investors from the market for crypto funds traded on exchanges. According to the ministry, investment companies and banks should “think twice” before selling exchange-traded crypto products to ordinary investors. Moreover, the regulator has warned that it will take action against companies selling risky crypto instruments.
At the same time, despite warnings about the risks of crypto investment, Sweden is not against the digitization of the economy. So, back in December, AtoZ Markets reported that Sweden would study the issue of launching a national digital currency by November 2022.
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