Goldman Sachs Makes First Bitcoin Futures Trade In Asia

According to a press release published on July 5, banking giant Goldman Sachs has completed the first block trade of bitcoin futures in Asia through GFI Securities LLC, a subsidiary of brokerage provider BGC Partners. This is CME Group's first-ever intermediated block trade of CME Group bitcoin options in Asian markets and was organized between Cumberland DRW LLC and Goldman Sachs.

BGC Asia Pacific CEO Brad HOWELL expressed optimism about partnering with Goldman Sachs and Cumberland in this regard, adding that:

“This transaction marks BGC’s continued commitment to expanding our cryptocurrency offering and to working with our global counterparties in developing this rapidly evolving asset class.”

The press release also states that BGC plans to launch electronic platforms and voice/hybrid brokerages in major financial centers, anticipating growth in the crypto sector.

Image: Forbes