Benzinga | Jul 24, 2021 12:37PM EDT

Goldman Sachs Settling Crypto ETPs In Europe: Coindesk







* According to Coindesk, Goldman Sachs Group Inc's (NYSE:GS) brokerage division is settling cryptocurrency exchange-traded products (ETPs) for its European hedge fund clients.

* The bank is currently offering the service to a limited number of clients and aims to roll them out to a broader customer base soon.

* In March, the bank restarted its cryptocurrency desk amid growing interest in Bitcoin (CRYPTO: BTC).

* Bank of America Corp (NYSE:BAC) has also been offering cryptocurrency ETPs for hedge funds.

* Bank of America has approved the trading of Bitcoin futures and is clearing cash-settled contracts.

* Other banks like Morgan Stanley (NYSE:MS) and JPMorgan Chase & Co (NYSE:JPM) have also started giving clients access to crypto funds.

* In the month of June, ETC Group launched the first bitcoin ETP in the U.K. on the Aquis Exchange in London.