Recently, reports emerged that Morgan Stanley rival Goldman Sachs could scuttle plans for a cryptocurrency trading desk.
“In response to client interest in various digital products, we are exploring how best to serve them in the space. At this point, we have not reached a conclusion on the scope of our digital asset offering,” Goldman Sachs said in a statement.
“Wall Street’s burgeoning interest in crypto comes despite a yearlong slide in the value of bitcoin, which has lost more than half its value over the last 12 months. That may help explain why none of the major U.S. banks has made a more forceful entry into the space, opting instead for the comparative safety of regulated futures markets,” according to CNBC.
For more information on the cryptocurrency market, visit the Bitcoin category.