Finance giant Goldman Sachs will reportedly have a cryptocurrency trading desk ready by June
0Finance giant Goldman Sachs will reportedly have a cryptocurrency trading desk ready by June.
While the rest of the world is gripped by cryptocurrency fever, Wall Street hasn’t been as quick to embrace Bitcoin, Ethereum, etc., but that’s starting to change. Multinational finance giant Goldman Sachs will reportedly be setting up a trading desk focused on digital currencies by the middle of 2018.
According to a report from Bloomberg, the plan is still in its early stages as the company looks to assemble a team in New York and decide where to house the desk. The bank is aiming to have it up and running by June next year.
“In response to client interest in digital currencies, we are exploring how best to serve them,” Goldman Sachs told Bloomberg in a statement.
The popularity of cryptocurrencies such as Bitcoin has exploded these past few months. Although it has dropped from a peak of almost $20,000 a few days ago to under $13,500 at the time of writing, Bitcoin was valued at around $8,260 just one month ago. CoinDesk reports that the virtual currency’s market capitalization now stands at $248 billion, which is more than Disney and Boeing.