Goldman Sachs Starts Trading New Derivative Tied to Ether

Goldman Sachs Group Inc. has started to trade a type of derivative tied to Ether, as Wall Street investors look for ways to bet on the world’s second-largest cryptocurrency.

The bank executed its first trade of Ethereum non-deliverable forwards, a derivative that pays out in cash based on the price of Ether. This gives institutional investors exposure without having to hold the tokens. Marex Financial was Goldman’s counterparty, the London-based financial-services firm said in an emailed statement.

Goldman has seen growing interest from clients in Ethereum, the world’s most-used blockchain network. Investors are watching closely its planned major technical upgrade ...