It’s no secret that by offering and conducting trading in non-deliverable forwards (for speculation) Goldman Sachs are turning to ripe ‘money making’ opportunities connected to BITCOIN.
As a hedge Goldies use futures contracts offered by the Chicago Mercantile Exchange (CME).
This committment will pave the way for Goldman’s being able to offer speculating opportunities to not just institutional clients (pension funds etc) but also their private wealth clients.
In partnering with Cumberland DRW (the Crypto Asset Specialist) Goldman’s benefit from their expertise and seamless cryptoasset counterparty capabilities.
Beating the regulators Goldman’s are staying clear of anything to do with dealing with Bitcoin physically. However,their offering is different in the way Morgan Stanley grant access (via their trust offering).
Bitcoin Exchange Traded Notes
Will Exchange – Traded Notes be next?
Well if Bitcoin Tracker One is anything to go by – probably.
In a speculative fashion, exposing hedge fund clients to Greyscale Bitcoin Trust (GBTC) is sure to be a winner.
“Get in there now son”, a source close to a GBTC cleaner was overheard whispering to one of his acquaintances via a recorded Zoom meeting at an online event about detergents.
The Grayscale Bitcoin Trust is the largest Bitcoin ‘Investment’ product reportedly holding more than 3.5% of all outstanding bitcoin supply.
As its investment objective is to ‘reflect the price performance of bitcoin (minus costs) it’s performed very well on the back of the cryptographic rise.
It seems like only yesterday Bitcoin was mired in criminal activity (SilkRoad) and money laundering.
Now, via Goldman’s signal it solidifies its position with institutional mainstream acceptance.