Goldman Sachs expands crypto ambitions beyond Bitcoin, plans Ether trading options

Goldman Sachs Group is moving beyond the world of Bitcoin and expanding into Ether. The bank plans to offer options and futures trading in Ether, the coin that fuels the Ethereum network, in the coming months, according to Mathew McDermott, head of digital assets at Goldman.

It’s the latest step in the Wall Street giant’s crypto ambitions after Goldman restarted a trading desk this year to help clients deal in publicly traded futures tied to Bitcoin. McDermott said the bank also plans to facilitate trades via exchange-traded notes tracking Bitcoin.

Despite all the warnings from regulators about the risks posed by crypto’s extreme volatility and role in money laundering, investment banks are stepping up to offer Bitcoin services to their big clients.