Most banks like Goldman Sachs, JP Morgan, and others have mostly talked about Bitcoin. Their cryptocurrency trading desks also had just Bitcoin future options. But recently Goldman Sachs announced their plan to add Ether futures options to their trading desks. They say that even after the price drop the interest in the sector is increasing and they believe institutional adoption will continue. The markets seem a little bullish after so long and this news has added to that it seems.
Goldman Sachs Ether futures trading options
The head of digital assets of the bank, Mathew McDermott has announced their plan to soon add Ethereum future options for trading. As of now, Bitcoin is only available on their platform. He also said that the price of Bitcoin and there right now seems to be a great entry point for many. Mathew thinks that the current price correction is just for cleaning out the leverages that have been in excess.
The reason to add future seems to offer multiple options to investors. It is obvious that no one likes to be restricted to only Bitcoin and Ether itself is a promising investment. Goldman Sachs found in a recent survey that 10% of people are already trading crypto and 20% are interested in it. So, by giving them multiple options Goldman Sachs is increasing their chance of getting more investors.
Ethereum is promising!
While Bitcoin is seen as an asset class Ethereum is seen more as a replacement to fiat. If we fast forward 10 years from now, crypto enthusiasts are expecting Bitcoin to tackle gold while Ethereum to beat the dollar. This is what makes Ethereum a really promising investment. It also solves one problem of Bitcoin that everyone talks about that is proof of work mechanism. While currently, Ethereum is still on proof of work, very soon it will move to the proof of stake consensus.
At the same time with the use of sharding, the number of transactions per second will also increase. All this will make Ethereum a significant investment in the long run. This is why Goldman Sachs has taken the decision of adding it.
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