Investment banking company Goldman Sachs is working on over-the-counter ether options offering amid a growing client interest.
The global head of cryptocurrency trading at the bank, Andrei Kazantsev, says that the firm will launch a cash-settled ether option.
Associate of the bank’s digital assets team, George Lewin-Smith, notes that the client’s conversation was moving towards ether, which is gaining popularity as a more investable asset.
ETH has performed better than bitcoin, recording a price surge of 32% since March 15, after announcing the last testnet before the Merge upgrade. The token has a market capitalization of $417 billion behind bitcoin’s $876 billion.
Multiple updates ahead of Merge have reportedly affected ether supply pushing the price even higher. The update is scheduled to be rolled out before the end of the year.
Options trading is mainly used by investors looking to hedge risks and increase yields, whereas over-the-counter transactions are trades completed privately.
Source: BNN Bloomberg