Goldman Sachs makes first OTC crypto options trade as it expands digital assets team

The digital assets trading unit at Goldman Sachs has made the first-ever over-the-counter (OTC) crypto transaction in the form of a bitcoin non-deliverable option, according to an announcement by its partner Galaxy Digital. The bank also added another digital assets VP to its team headed up by Matthew McDermott. 

The company says this is the first OTC crypto transaction by a major bank in the US and could be seen as a sign of maturity of the asset class in the eyes of institutional players. 

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro