In Europe, Goldman Sachs settling crypto ETPs.

For some hedge fund customers in Europe, Goldman Sachs' prime brokerage unit is clearing and settling bitcoin exchange-traded products (ETPs), according to two persons familiar with the situation.

The services are presently only available to a small number of customers, and the bank has been analysing the situation internally as it considers expanding the service to a larger number of consumers, according to the sources.

Goldman Sachs isn't the only bank to take this step. Bank of America has enabled the clearing and settlement of cryptocurrency ETPs for hedge funds, as CoinDesk reported earlier this week, as institutional adoption of crypto accelerates.

The Financial Times reported earlier this week that f ollowing in the footsteps of its rival State Street, BNY Mellon has backed Pure Digital, a new crypto trading platform. The entry into crypto ETPs follows after Goldman's cryptocurrency trading desk relaunched in March.

Bank of America has approved some clients to trade bitcoin futures and is in the process of clearing cash-settled contracts, as CoinDesk reported last week

Crypto ETPs, like equities and ETFs, are traded on exchanges and track the performance of an underlying asset. Their popularity is growing because they let customers to invest in cryptocurrency without having to own the underlying digital assets.

On the Aquis Exchange in London, ETC Group launched the first bitcoin ETP in the United Kingdom in June. A growing number of bitcoin exchange-traded funds (ETFs) have been list on the SIX Exchange in Switzerland and the Deutsche Boerse in Germany are two of the most important stock exchanges in the world.

Bloomberg reported this week that over half of Goldman Sachs' family offices desire exposure to cryptocurrency.

A request for comment from Goldman Sachs did not responded.

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