Don’t call Goldman Sachs’s long-awaited Bitcoin-trading business a full-fledged desk, and don’t expect it to buy and sell Bitcoins, at least at first.
The bank, preparing to pioneer a new cryptocurrency market on Wall Street, plans to start small and offer a limited number of derivatives, according to a person briefed on the decisions. It will trade Bitcoin futures in a principal, market-making capacity and will also create non-deliverable forward products.