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Goldman surprised both clients and market onlookers last week after announcing its arrival in the world of cryptocurrency trading through a futures-like contract. Goldman’s so-called “non-deliverable forward” is a toe-dip in the unknown waters of crypto trading where Goldman will use its own money to trade futures on behalf of customers.

Professor Daniele Bianchi of Warwick Business School explained the nuts and bolts of Goldman’s crypto trading to Express.co.uk as, “allowing you to invest in bitcoin without actually owning Bitcoin, opening ‘the box’ also for pure speculators.”

Rana Yared, one of Goldman’s executives involved in creating the future exchange, told the NYT that clients were asking to invest in bitcoin as a valuable commodity, similar to gold. She said: “It resonates with us when a client says, ‘I want to hold bitcoin or bitcoin futures because I think it is an alternate store of value’”.

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