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Goldman Sachs to Offer Over-the-Counter Crypto Options Trading

  • Move marks first such transaction by a major Wall Street bank
  • Trade is facilitated and executed by partner Galaxy Digital
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Novogratz Helps Goldman Execute Over-the-Counter Crypto Options Trade
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Goldman Sachs Group Inc. executed its first over-the-counter crypto options trade, a further step in its expansion of digital-asset offerings to Wall Street investors. 

The bank traded a non-deliverable Bitcoin option, a derivative tied to Bitcoin’s price that pays out in cash, it said in a statement. The transaction was facilitated by Galaxy Digital Holdings Ltd., a crypto financial-services firm started by former Goldman partner Michael Novogratz. Options are used by crypto investors to hedge risks or boost yields, and over-the-counter transactions are typically larger trades negotiated privately.