Goldman Sachs is planning to include ether OTC options to its crypto products, the bank’s global head of crypto trading said.
Interest from the bank’s clients in ether has reportedly been on the rise, especially since the recent network upgrades.
During a webinar, Andrei Kazantsev said that the OTC options trading of ether would happen soon, given that Goldman is already offering OTC trading of bitcoin options.
Bloomberg notes that the bank’s clients are turning their attention to ether and that their impression of it as an investable asset has improved.
Ethereum has had a successful 2022, with the asset’s price improving by over 30% since the middle of March.
Several key technical developments have been responsible for this surge, including the Merge taking place on the Kiln testnet. More upgrades are expected over the course of the year.
The Merge will take place on the mainnet next year, making the network faster and cheaper. This will be vital to the healthy growth of the Ethereum network as DeFi use increases.
Goldman Sachs has also submitted a DeFi ETF application to the United States Securities and Exchange Commission. A decision should be made sometime this year.
Is Ethereum in for a strong 2022?
Ethereum has had a stellar start to 2022 as the price reaches a make-or-break resistance level. The asset and network face big changes this year,that may lead to it outperforming BTC.
Several signs are pointing to growing investor confidence in Ethereum, including more funding for ConsenSys, which is now valued at $7 billion. The biggest indicator of confidence is the asset’s price, which has not failed to disappoint.
Still, it is a long way to go before the end of the year, and anything can happen in the crypto market. A faster and cheaper Ethereum network would go a long way in boosting its usability.
BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.