After the Bitcoin boom returned and reached new highs, attention returned to the digital currency even more.

Where many companies seek to make it within their treasury in different proportions, while other institutions seek to provide it to individual and institutional users.

recently according to informed sources Goldman Sachs will resume trading bitcoin futures after a three-year hiatus.

According to the same source, the Bitcoin futures trading service provided by Goldman Sachs will resume in mid-March.

The New York-based bank originally announced plans to reopen its crypto-trading desk in 2018, but quietly halted it due to the then-low bitcoin prices.

The news of the resumption of Bitcoin futures trading by Goldman Sachs is very positive and important as it reflects how the big names on Wall Street are turning to offer cryptocurrencies as part of their daily operations.

Read:Learn about Dogecoin, which has turned from a joke to a widespread digital currency

Goldman Sachs’ cryptocurrency desk is forming a broader push for cryptocurrencies, which could see the bank offer futures contracts for other digital currencies such as Ethereum (ETH).

Goldman Sachs is also studying the possibility of setting up a bitcoin trading fund on the exchange and providing cryptocurrency storage and custody services, according to the same person familiar with the matter. to source.

The bitcoin futures trading desk comes at a time when bitcoin is gaining increasing interest from institutions as the price of the cryptocurrency has surged more than 470% from the previous year.

Investors and some companies see the leading cryptocurrency as a way to hedge against inflation as central banks and the government run fiscal stimulus packages.

Futures contracts are derivative contracts that obligate buyers to purchase an asset at a predetermined future date and price.

They are used to speculate and hedge against price fluctuations and to increase liquidity in a particular market.

Goldman Sachs’ announcement makes cryptocurrency and other related derivatives attractive to investors looking to engage in riskier short or long positions while looking for returns in a low interest rate environment.

Read:Coming soon: Issuance of the first stable digital currency on the Cardano blockchain

Read also:

Ripple Releases 1 Billion XRP From Its Escrow Account…Details Here

Cboe applies for listing of the first Bitcoin ETF in the US