Bitcoin spring is here again?

According to Reuters, after three years of planned suspension, Goldman Sachs is restarting its cryptocurrency trading desk and plans to support bitcoin futures trading again starting next week.

Cryptocurrency inflows have dropped sharply

Goldman Sachs revealed that institutions are increasingly interested in Bitcoin, so they decided to restart Bitcoin transaction services.

At the end of 2017, Goldman Sachs was the first largest company on Wall Street preparing to provide cryptocurrency-related products, and plans to open a platform to provide cryptocurrency services.

At that time, Wall Street financial institutions were studying how to deal with business-related security challenges and how to keep assets.

The plan was launched in the second half of 2018. In September of the same year, it was reported that the bank was no longer involved in cryptocurrency-related investments. Goldman Sachs subsequently abandoned its encryption plan due to regulatory issues.

In the past year, due to the economic stimulus policies launched by the US government and the central bank, the price of Bitcoin has soared by more than 470%. Many investors and some companies have begun to regard Bitcoin as an inflation hedging tool.

With the gradual concretization of conceptual supervision, Goldman Sachs chose to re-enter this market.

People familiar with the matter said that the Goldman Sachs cryptocurrency team office will be located in the Global Market Department of Bank of America, and this is only part of Goldman’s layout in the fast-growing digital asset field. They are also involved in blockchain technology and central bank digital currency projects.

Goldman Sachs is also exploring the possibility of Bitcoin exchange-traded funds, and has issued an information request to explore digital asset custody.

In addition to custodial services, Goldman Sachs, like other investment banks, is or plans to purchase various digital currencies.

Previously, Bloomberg terminal data showed that Goldman Sachs, ICAP, JPMorgan and UBS purchased the first Polkadot (DOT) exchange-traded product (ETP)

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