Goldman Sachs has debuted a Bitcoin (BTC) futures trading product for its client in collaboration with crypto investment giant Galaxy Digital. According to CNBC, the move marks the first time the Wall Street bank has partnered with a digital asset-based liquidity provider. Galaxy Digital co-president Damien Vanderwilt said the company offered a gateway to the crypto space allowing a tightly regulated entity like Goldman to offer crypto-related investment products. Goldman will reportedly be offering CME Group Bitcoin futures for its clients, marking another expansion of its recently established crypto trading desk. The move follows swiftly on the heels of an …
American banking giant Goldman Sachs has officially confirmed its plans to revive a cryptocurrency trading desk amid increasing demand from investors. Matt McDermott, global head of digital assets for Goldman Sachs' global markets division, announced that the company will provide access to CME Bitcoin (BTC) futures on its upcoming crypto platform. In a Friday Exchanges at Goldman Sachs podcast, the executive also noted that Goldman Sachs will offer crypto services with non-deliverable forwards, or NDFs, which are cash-settled, and usually short-term, forward contracts. McDermott noted that initially Goldman Sachs’ crypto platform will be limited to these two products, stating: “We’re …
Galaxy Digital, a cryptocurrency brokerage and merchant bank founded by billionaire investor Michael Novogratz, announced on Monday that it would be issuing $500 million in exchangeable senior notes to accelerate business initiatives. The debt is convertible into company equity and bears an interest rate of 3% per annum, with maturity in 2026. New expansion areas include non-fungible tokens, or NFTs, with the firm committing $62 million of its capital into 22 NFT related companies since the start of the year. Over the years, Galaxy Digital founder and CEO Mike Novogratz has been a famed bullish investor of Bitcoin (BTC) and …
With BTC again edging toward all-time highs, a large volume of money is flowing into the Bitcoin derivatives markets. According to crypto market data aggregator Glassnode, outstanding futures contracts pushed into new all-time highs on March 11, with open interest across exchanges approaching $20 billion. More capital is flowing into the derivatives markets, as the amount of outstanding #Bitcoin futures contracts reaches another ATH. Open interest across major exchanges is currently sitting at the verge of the $20B mark. Chart: https://t.co/ygoffzMSJW pic.twitter.com/BiJIpyTKDD — glassnode (@glassnode) March 11, 2021 Options have also surged to see record volumes in 2021, with Derebit …
While a bullish backdrop emerges in February, spare a thought for the traders trying to time the market. One savvy trader by the name of Samjhill on Reddit has built a trading tool that outperforms dollar-cost-averaging (DCA) for buying Bitcoin (BTC). DCA is the strategy in which investors buy a small amount regularly regardless of price fluctuations. It works in contrast to traders keen to get the lowest entry, timing the dip to perfection and avoiding “catching a falling knife.” The aptly named “Buy the Dip Bot” aims to “get the best price for a given asset by using a …