Goldman Sachs To Offer OTC Ethereum Options Trading

During a Goldman client webinar on Tuesday, he claimed the Wall Street behemoth plans to sell cash-settled Ether options "in due time." Goldman Sachs traded its first over-the-counter Bitcoin options last month.

Crypto investors utilize options to reduce risk and increase profits, and over-the-counter transactions are often larger trades that are arranged secretly. With a market capitalization of $417 billion, Ether is the second-largest cryptocurrency after Bitcoin, which has a market capitalization of $876 billion.

During the panel, George Lewin-Smith, an associate in Goldman's digital-assets unit, noted that client conversations had progressively switched to Ether, which is now perceived as "more of an investable asset class." According to Kazantsev, Goldman still doesn't offer spot crypto trading, but it does provide access to European and Canadian exchange-traded goods that can be used as a proxy.

Since March 15, when it passed the last significant test before a long-awaited software update called "The Merge," Ether's price has risen more than 32% and beat Bitcoin. The Merge would be Ether's most significant technical update since its launch in 2015, reducing the blockchain's carbon footprint while also improving its efficiency and scalability.

Several technological changes in the run-up to the Merge have slowed Ether's fresh supply, driving up the price of the token. This year, the modification will be applied.