Goldman Sachs announced its first over-the-counter crypto options trade on Monday, becoming the first major U.S. bank to do so, marking a milestone for crypto adoption on Wall Street.

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Fast facts

• The trade was in the form of a Bitcoin non-deliverable option (NDO) — a Bitcoin derivative settled in cash — and was facilitated by New York-based crypto investment firm Galaxy Digital Holdings.
• “This is an important development in our digital assets capabilities and for the broader evolution of the asset class,” said Max Minton, Asia Pacific head of digital assets for Goldman Sachs.
• Founded by billionaire and former Goldman partner Mike Novogratz, Galaxy Digital provides liquidity for the investment bank’s Bitcoin futures on the CME.
• Bitcoin was trading at US$41,019 at press time, down 0.9% in the past 24 hours. 

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