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Goldman Sachs To Add OTC Ethereum Options

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In what seems like a follow-up to its execution of over-the-counter (OTC) options trade for Bitcoin a few weeks ago, investment bank Goldman Sachs may soon begin to offer OTC options trading for Ethereum (ETH) as well. However, the bank has claimed that its new plans has to do with the current buzz around the ETH token, especially as its holders calmly await its shift to a proof-of-stake (PoS) model.

Offering OTC Options Will Boost ETH Investment — Goldman Sachs

According to Bloomberg’s report, the global head of crypto trading at Goldman Sachs Andrei Kazantsev was the one who made the revelation during a client webinar. Kazantsev highlights how clients are increasingly being attracted to the world’s second-largest cryptocurrency. He also claims that their attraction is directly linked to the upcoming PoS model. And so, the bank is planning to launch the product “in due course,” he says.

Meanwhile, the move would undoubtedly make the ETH token a better investment choice than before, especially with big institutional traders. Of course, most institutional traders would rather invest in crypto via a proxy, as opposed to holding tokens directly.

It might also be important to note that OTC transactions are usually mostly carried out by big trading houses. Interestingly however, a large percentage of Goldman’s clientele includes these big traders. Therefore, it’s safe to say that Goldman Sachs foraying into OTC crypto options is as a result of growing interest in crypto from its big-trading clientele.
Although, the bank currently does not offer spot crypto trading, it however, allows access to crypto ETFs and options trade.

Growing Popularity For ETH As Upgrade Nears

Since news of the upcoming upgrade to eTH 2.0 broke, the token has seen quite the general surge in trading. In fact, expectations are even higher as the low energy requirements of staking will undoubtedly also increase the token’s accessibility.

Meanwhile, the possibility of higher returns on staking will also mean that debt investors are not left out.

With all these features, Arthur Hayes may not be far from the truth with his prediction that ETH prices may go beyond $10,000 by the end 2022. At press time, ETH was last seen trading at $3,339.

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