Investment banking hulk Goldman Sachs likely to utilize its own money to trade bitcoin futures on their clients’ behalf, according to the sources.

The news reflects the growing involvement of Goldman in the crypto-market, as CEO Lloyd Blankfein has formerly mentioned that the investment bank was clearing bitcoin futures for its clients. Per the Times, any deeper action - including the direct handling of bitcoin - will only come following approval from U.S. regulators.

While another investment banking counterpart, J.P. Morgan is also looking ahead whether to render services to its clients by providing access to CME's new bitcoin product through its futures-brokerage unit," the Wall Street Journal report said citing a person familiar with the situation.

Let’s refresh our memories on a few critics, a few months ago JP Morgan chief, Mr. Jammie Dimon, has long been an ardent critic of bitcoin.

Well, he has also termed cryptocurrencies a “fraud” and a "novelty" and said they are "worth nothing. Thereafter, he backpedaled on his notion after seeing the phenomenal rallies of BTC. He regretted terming the cryptocurrency as a fraud in September last year.

In an interview with Fox Business, Mr. Dimon said that he trusts blockchain as a technology behind BTC, is “genuine”.

Amid all these speculations, BTC 3m forwards at OKCOIN is trading at $9248 levels.

Currency Strength Index: FxWirePro's hourly BTC spot index is flashing at 129 levels (which is highly bullish), while hourly USD spot index was at shy above 27 (mildly bullish) while articulating (at 11:40 GMT). For more details on the index, please refer below weblink:

http://www.fxwirepro.com/currencyindex.

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