高盛對沖基金擁抱加密貨幣選擇權，因為 ETF 激發了熱情

Are Crypto Options the New Darling of Hedge Funds?

加密貨幣選擇權是對沖基金的新寵嗎？

Word on the street is that Goldman Sachs' hedge fund clientele are stepping up their game in the crypto options arena. This flurry of activity is reportedly a direct result of the green light given to spot Bitcoin exchange-traded funds (ETFs). As Max Minton, head of digital assets for Goldman Asia Pacific, points out, this shift is a testament to the growing interest and involvement from the firm's high-flying clients.

有消息稱，高盛的對沖基金客戶正在加密貨幣選擇權領域加大力度。據報道，這一系列活動是現貨比特幣交易所交易基金（ETF）獲得批准的直接結果。正如高盛亞太區數位資產主管馬克斯·明頓（Max Minton）所指出的那樣，這種轉變證明了該公司雄心勃勃的客戶的興趣和參與度與日俱增。

ETFs Ignite Crypto Enthusiasm

ETF 點燃加密貨幣熱情

Minton's insights, shared in a Bloomberg report on March 24, reveal that this renewed crypto enthusiasm is largely fueled by the U.S. blessing of ten new Bitcoin ETFs. This milestone, achieved earlier this year, marked a watershed moment for crypto assets within the confines of traditional market structures.

Minton 在 3 月 24 日彭博社的一份報告中分享的見解表明，這種新的加密貨幣熱情很大程度上是由美國對 10 只新比特幣 ETF 的支持推動的。今年稍早實現的這一里程碑標誌著傳統市場結構範圍內加密資產的分水嶺時刻。

"The recent ETF approval has sparked a surge in interest and activity from our clients," Minton notes.

「最近 ETF 的批准引發了我們客戶的興趣和活動激增，」明頓指出。

According to Minton, the introduction of these ETFs has not only legitimized cryptocurrencies in the eyes of the financial establishment but also reignited Goldman's clients' passion for the sector. He explains that the bulk of this renewed focus is being channeled through Goldman's futures and options offerings, with hedge funds leading the charge. This surge in activity comes after a relatively quiet 2022, indicating a notable shift in market dynamics since the turn of the year.

Minton 表示，這些 ETF 的推出不僅使加密貨幣在金融機構眼中合法化，而且重新點燃了高盛客戶對該行業的熱情。他解釋說，這一新的焦點主要是透過高盛的期貨和選擇權產品來引導的，其中對沖基金帶頭。這項活動激增是在相對平靜的 2022 年之後出現的，這表明自年初以來市場動態發生了顯著變化。

"It was a more subdued year last year, but we've seen a noticeable pickup in client interest in onboarding, pipeline, and volume since the start of the year," Minton says.

「去年是比較低迷的一年，但自今年年初以來，我們看到客戶對入職、管道和數量的興趣明顯上升，」明頓說。

Goldman's Crypto Ambitions

高盛的加密貨幣野心

Despite Goldman Sachs' impressive $2.8 trillion in assets under management at the end of 2023, the firm currently steers clear of offering spot cryptocurrency products. Instead, its focus is on crypto derivatives, including Bitcoin and Ether options and futures, which were first introduced with the launch of its crypto trading desk in 2021. These products enable clients to navigate the choppy waters of the crypto market and make informed bets on price movements.

儘管高盛截至 2023 年底管理的資產達到 2.8 兆美元，令人印象深刻，但該公司目前避免提供現貨加密貨幣產品。相反，它的重點是加密貨幣衍生品，包括比特幣和以太坊期權和期貨，這些產品是在2021 年推出加密貨幣交易平台時首次推出的。這些產品使客戶能夠在加密貨幣市場的波濤洶湧中航行，並在明智的情況下進行押注。價格變動。

In addition to its derivatives offerings, Goldman Sachs is also delving into the world of tokenizing traditional assets using blockchain technology. The firm's involvement in this space includes the development of the GS DAP digital-asset platform and participation in a blockchain network pilot designed to connect banks, asset managers, and exchanges. Furthermore, Goldman's investments in startups, particularly those developing blockchain infrastructure, underscore its commitment to shaping the future of the digital asset market.

除了衍生性商品外，高盛還深入研究使用區塊鏈技術對傳統資產進行代幣化的領域。該公司在這一領域的參與包括開發 GS DAP 數位資產平台以及參與旨在連接銀行、資產管理公司和交易所的區塊鏈網路試點。此外，高盛對新創企業的投資，特別是那些開發區塊鏈基礎設施的新創企業，突顯了其對塑造數位資產市場未來的承諾。