Media: Goldman Sachs opens limited access to cryptocurrency-based ETP

Goldman Sachs opens limited access to cryptocurrency-based ETP

Investment bank Goldman Sachs has granted some hedge funds in Europe access to cryptocurrency-based exchange-traded products (ETPs). This was reported by CoinDesk, citing informed sources.

According to them, Goldman Sachs continues to explore the issue and plans to extend the service to more clients.

Earlier, 21Shares announced the launch of Solana cryptocurrency-based ETP on the Swiss stock exchange SIX Swiss Exchange. Prior to that, the provider added its bitcoin-based exchange traded product to the listing of UK alternative trading system Aquis.

In June, digital asset manager CoinShares announced the listing of bitcoin, Ethereum and Litecoin on Deutsche Börse's ETP platform Xetra.

Ripple and Litecoin-based exchange products began trading on Nordic Growth Market, the platform of the Swedish unit of the Börse Stuttgart Group stock exchange, in 2019.

As a reminder, Goldman Sachs offered non-deliverable forwards on the first cryptocurrency in the spring.

According to a recent survey by the bank, 60% of family offices are interested in digital assets.

Unlike Bitcoin and Ethereum, Cardano uses the proof of stake (PoS) model to mine new blocks in the chain and verify transactions. Only a fraction of the people who own Cardano can mine ADA, which dramatically reduces its energy consumption.

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