Three months after relaunching its cryptocurrency trading desk, Goldman Sachs is expanding its cryptocurrency reach beyond Bitcoin and into Ether.

Why should we care?
Citing an interview with Mathew McDermott, head of digital assets at Goldman, a report suggests Goldman “in the coming months” will offer options and futures trading in Ether, the coin that underpins the Ethereum network. “We’ve actually seen a lot of interest from clients who are eager to trade as they find these levels as a slightly more palatable entry point,” McDermott said in the interview. The move highlights the bank’s growing interest in crypto offerings after beginning to offer non-deliverable forwards, a derivative tied to bitcoin’s price, in May. Goldman’s embrace of crypto isn’t alone among investment banks. For example, in May, New York-based Cowen announced plans to offer crypto custody services to hedge funds and asset managers. Goldman, like other large incumbent financial institutions, is getting indications from its client base that crypto is here to stay: In a survey of 850 institutions, Goldman found that close to one in ten are trading crypto.