Goldman Plans to Expand OTC Crypto Options Trading to Ether

Goldman Sachs Group Inc. is planning to offer over-the-counter Ether options trading and has seen growing interest from clients in the second-largest digital currency, said Andrei Kazantsev, global head of crypto trading at the bank according to a story in Bloomberg news. The firm is planning to launch cash-settled Ether options “in due course,” he said during a webinar. Last month, Goldman traded its first over-the-counter Bitcoin options. Options are used by crypto investors to hedge risks or boost yields, and over-the-counter transactions are typically larger trades negotiated privately. Ether has a market value of $417 billion, making it the largest coin behind Bitcoin at $876 billion.