Goldman Sachs is Signing up Clients for its Bitcoin Trading Product

Investment banking giant Goldman Sachs has quietly begun signing up a limited number of customers for its yet-to-launch bitcoin trading product.

Citing a source familiar with the matter, The Block reports that the 149-year-old Bulge Bracket bank has onboarded a “small number of clients” to actively trade the derivative, a non-deliverable forward, which is a cash-settled product that is comparable to a futures contract but does not trade on an exchange. Additionally, the bank continues to consider launching custody services for cryptoassets.

Notably, the publication’s source also contradicted an earlier report from another crypto site which alleged that Goldman Sachs was “actively exploring the creation” of a non-deliverable forward for ether, the native asset of the Ethereum platform. That would have been a major stamp of approval for Ethereum, as well as altcoins in general, as it seeks to achieve the level of Wall Street exposure that bitcoin has begun to see over…