Key Takeaways
- • Goldman Sachs reports a "resurgence of interest" in crypto options from its hedge fund clients, attributed to the U.S. approval of spot bitcoin ETFs in January 2024.
- • Max Minton, Goldman's Asia Pacific head of digital assets, said "many of our largest clients are active or exploring getting active in the space."
- • Goldman reportedly used Galaxy Digital Holdings, led by Mike Novogratz, to execute its first over-the-counter crypto options trade.
- • Coverage is based on headlines and brief excerpts; the full Bloomberg article was not retrievable, so specific volumes and figures are not confirmed.
Summary
Goldman Sachs is seeing a renewed appetite for cryptocurrency exposure among its hedge fund clients, according to Bloomberg reporting. The pickup follows the U.S. approval of spot bitcoin exchange-traded funds in January 2024, which Goldman executives credit with reigniting client activity.
In an interview cited by Bloomberg, Max Minton, Goldman's Asia Pacific head of digital assets, said: "The recent ETF approval has triggered a resurgence of interest and activities from our clients. Many of our largest clients are active or exploring getting active in the space." Bloomberg characterized the shift as hedge-fund participation returning to crypto markets, with the activity centered on options.
Separate coverage indicates Goldman used Galaxy Digital Holdings, the firm led by Mike Novogratz, to execute its first over-the-counter crypto options trade. The arrangement points to Goldman relying on an established digital asset platform to facilitate institutional derivatives activity.
The available material does not include transaction volumes, client counts, or the specific option structures involved, and those details should be verified against the original Bloomberg report.
In an interview cited by Bloomberg, Max Minton, Goldman's Asia Pacific head of digital assets, said: "The recent ETF approval has triggered a resurgence of interest and activities from our clients. Many of our largest clients are active or exploring getting active in the space." Bloomberg characterized the shift as hedge-fund participation returning to crypto markets, with the activity centered on options.
Separate coverage indicates Goldman used Galaxy Digital Holdings, the firm led by Mike Novogratz, to execute its first over-the-counter crypto options trade. The arrangement points to Goldman relying on an established digital asset platform to facilitate institutional derivatives activity.
The available material does not include transaction volumes, client counts, or the specific option structures involved, and those details should be verified against the original Bloomberg report.
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