DBS and Goldman Sachs Announce First OTC Crypto Options Trade

Two major financial institutions, Singapore's DBS and Wall Street giant Goldman Sachs, have reportedly completed what they describe as the first over-the-counter (OTC) options trade involving cryptocurrencies. The trade involved cash-settled Bitcoin and Ether options.

Options trading allows investors to better manage the risk associated with crypto exposure, a feature increasingly sought after as demand for crypto-linked products grows. DBS noted that in the first half of 2025, clients executed more than $1 billion worth of trades in crypto options and structured notes, marking a 60% increase compared to the previous year.

Max Minton, head of digital assets for Asia Pacific at Goldman Sachs, commented on the development, stating: "The trade signifies the development of an interbank market for cash-settled OTC cryptocurrency options, an area where we expect to see continued growth as institutional investors become increasingly active in this space."

This move highlights a growing trend among traditional financial institutions exploring structured crypto products to meet increasing institutional demand.