Major US-based investment bank Goldman Sachs is reportedly widening its scope to include Ether in its list of derivatives offerings within the next few months. 

Specifically, following its critical attitude towards crypto, the Wall Street investment bank has reportedly begun to adopt a completely opposite stance starting 2021. 

Goldman’s managing director of digital assets – Mathew McDermott – reportedly provided his confirmation of the bank’s initiative to widen its range to cover Ether options and futures, with different derivatives offerings. 

“Institutional adoption will continue. […] Despite the material price correction, we continue to see a significant amount of interest in this space”. McDermott further remarked in terms of the inclining trend of crypto institutional demand, regardless of the recent market volatility. 

McDermott reportedly mentioned insights from a survey carried out on 850 institutions in the second week of June, where approximately 10% of participants confirmed that they are taking part in crypto trading, and 20% are keen on joining the market. 

Institutional inflows into Ether products have reportedly reached the accumulated figure of nearly $1 billion in 2021 exclusively, with the overall assets equivalent to $11.1 billion, per data from CoinShares. 

Goldman reportedly rolled out a limited Bitcoin (BTC) derivatives trading desk in May this year. The new platform is fixed firmly into the bank’s Global Currencies and Emerging Markets division, with McDermott’s digital-asset unit in charge of supervising. 

Goldman’s pro-crypto stance is not only displayed with its trading desks, where the bank recently spearheaded a $15 million investment round for Coin Metrics, a high-profile crypto intelligence platform.