Goldman Sachs applies to launch DeFi- and blockchain-based ETFs

July 27, 2021


Goldman Sachs applies to launch DeFi- and blockchain-based ETFs

Investment bank Goldman Sachs has submitted an application to the SEC to launch an exchange-traded fund (ETF) whose basket will include shares of public companies from the DeFi and blockchain sectors.

According to the document, the ETF will invest at least 80% of its assets in blockchain and DeFi sector-oriented projects.

   "The Goldman Sachs Innovate DeFi and Blockchain Equity ETF aims to deliver investment performance, before fees and expenses, that closely matches that of the Solactive Decentralised Finance and Blockchain Index," the filing says.

Exactly which companies the index tracks is not known. A tool by that name is not included in Solactive's product list.

"The index is intended to deliver data on companies that align with two key themes: the adoption of blockchain technology and the digitalisation of finance," the document states.

The ETF basket will include "common stocks, including depositary receipts, of companies located in developed and emerging markets around the world." Goldman Sachs will invest in securities listed on stock exchanges in Australia, Canada, France, Germany, Hong Kong, Japan, South Korea, Switzerland, the Netherlands, the UK and the US.

According to a Goldman Sachs survey, 60% of family offices around the world are interested in cryptocurrencies and 15% are already investing in digital assets.

Recall that the investment bank has given some hedge funds from Europe access to cryptocurrency-based exchange-traded products, according to CoinDesk. The organisation plans to extend the service to more clients.

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About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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