Wall Street Giant Goldmans Plans to Offer Crypto Spot Trading on its E-Platform: Sources

Wall Street giant Goldman Sachs (GS) is about to start offering spot trading in select crypto assets on its electronic trading platform, according to two XX people with knowledge of the matter.

The bank will mirror the Chicago Mercantile Exchange's (CME) crypto offering, and will offer spot trading in digital assets that are listed on the CME, the people said, who spoke on condition of anonymity as the matter is private.

The CME currently offers futures contracts for bitcoin (BTC) and ether (ETH) and plans to launch solana (SOL) trading on March 17, pending regulatory approval.

Goldmans comment XXXXX.

CME's crypto derivatives have opened the door to regulated financial products, such as exchange-traded funds (ETFs).

By mirroring the exchange's offering Goldmans can facilitate basis trading in these cryptos, one of the people said, a strategy that has proved popular amongst hedge fund clients.

“With the launch of our new SOL futures contracts, we are responding to increasing client demand for a broader set of regulated products,” said Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products.

Goldman isn't the only large TradFi player making moves in crypto.

Chicago-based trading giant Jump is returning its U.S. cryptocurrency operations to full strength, having scaled back on trading and investment in digital assets in America over the past couple of years due to regulatory scrutiny and uncertainty, as earlier reported by CoinDesk.