Goldman Sachs finalized an over-the-counter crypto-related trade with the digital-asset financial firm Galaxy Digital, according to a news release by Galaxy Digital on Monday.
The New York-based firm Galaxy revealed the trade. The transaction was disclosed in the statement as a bitcoin (BTC) non-deliverable option, a type of cash-settled crypto options trade.
Galaxy stated that this marks the first OTC crypto transaction by a major bank in the US as Goldman Sachs continues to expand its crypto offerings, signaling the continued growth and adoption of digital assets.
In March 2020, Goldman Sachs reopened its crypto trading desk after a three-year pause, pushed by growing demand from institutional clients.
Last June, Galaxy reported it would act as Goldman’s liquidity provider for Bitcoin futures block trades.