According to sources familiar with the matter, Goldman aims to have a new cryptocurrency trading desk up and running by the end of June, if not earlier.
Already, the bank is one of the first large players from Wall Street to devote intensive resources to tracking and trading in cryptocurrency, but don’t expect the first mover advantage to last for long.
A number of recent moves are beginning to legitimize the volatile currency market, and investors everywhere are taking notice.
It started with the ability to trade futures on Cboe.
Under the XBT ticker symbol, investors can now place longer-term bets on the price of the currency, including those that it will decrease in value, called short-selling.
The world’s largest futures market, CME followed suit just this week.