Bitcoin Forum

It’s now more than 12 months since rumours about how one of the giant financial institutions such as banks, and investment companies, would come out and open up a Bitcoin (BTC) business, and that expectation has thus far produced no significant results.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/goldman-sachs-to-provide-bitcoin-trading-services/

https://coinidol.com/upload/resize_cache/iblock/227/900_900_1/227d1393e709b2a87d1ac88694f803a3.png

It's there already.... It's called Poloniex.... It's probably not interesting enough to invest much time in it so there hasn't been done much since they completed the takeover. Poloniex is degraded from top tier to garbage exchange.

If anyone seriously thought GS would set up a seperate trading desk people are simply delusional. They are in already and have bought futures for their clients as well, so what's the point of waiting?

People probably expected a massive wave of institutions publicly entering crypto and pump everything to new record highs. That's not how institutions work. They have been in for a long time through the OTC market, silently.

Exactly this. Since GS/Circle took control of Polo it has become a complete joke of an exchange, one of the worst out there (& there's a lot of bad ones), which is to be expected when a greedy fiat based bankster jump in thinking that crypto is the same as fiat & so apply the same business model, ie: greed & manipulation to make cash. I abandoned them some time ago & won't touch any centralized exchange again, especially one run by a manipulative banking cartel.

Coinidol are a joke too. If they didn't know that GS were already involved then they are way out of touch & should do some catchup research. It's difficult to take them seriously as it is with their headline cartoons drawn by a ten year old....

We are still at the very beginning of the tokenization of the world. This will come for sure. And Goldman Sachs and others will not miss this opportunity. Many such companies have already taken the first steps in taking over or joining crypto companies. Once a reasonably good regulation is given, the (crypto) ball will start rolling. The hype of 2017 was just a test balloon.

I know Morgan Stanley said they were waiting for more interest from clients before launching their own Bitcoin products, but as of a couple months ago they were loosely planning to offer futures-based swaps. In the meantime, they are clearing Bitcoin futures for clients, same as Goldman Sachs. I figure Goldman is in the same position. They want to see more interest and liquidity in the regulated markets.


I think there's something to be said for the distinction between derivatives/securities and spot cryptocurrency. It's hard to imagine institutional clients lining up to trade at Poloniex. Some will go through the trouble of OTC brokers and figuring out storage or custody, but many won't bother until they can buy through their regular broker-dealers.

I think they had plans to turn Poloniex into a licensed broker-dealer, but I wonder if the SEC crackdown on security tokens put a damper on things.

Key Wall Street players just want avoiding the trouble crypto may cause to them

It will be coming soon. Bakkt is just a few weeks away and will help institutional investors to step into the bitcoin world. Poloniex is improving after the circle takeover but still not what it used to be 2 years ago