Goldman Sachs Edges Towards ETH, Files for Defi and Blockchain Equity ETF

Goldman Sachs, a major traditional investment bank has recently filed for a Defi fund that is similar to the traditional ETFs and edged toward ETH. In accordance with the filing today with the Securities and Exchange Commission, SEC, the bank is all set to offer an ETF linked to companies in the sector.

Goldman Sachs Files for Defi and Equity ETF With SEC

The investment bank Goldman Sachs has been edging toward Ethereum and Defi in recent months and its Innovate Defi and Blockchain Equity ETF is going to provide the investors with exposure to companies that are aligned with the themes of blockchain technology.

As the bank further said, it will give investors exposure to the digitalization of finance.

Talking about an ETF, it stands for exchange-traded product and it is an investment product that tracks an asset or group of assets that can be traded like a stock on traditional exchanges.

Well SEC is yet to approve any Bitcoin ETF that will be giving access to BTC to the investors without directly investing in Bitcoin and securing it themselves. 

The bank further revealed that the fund will be designed to correspond to the performance of the Solactive Decentralized Finance and Blockchain Index. 

More About the Solactive’s Blockchain Technology Performance Index

The Solactive’s Blockchain Technology Performance Index features firms like Facebook, Alphabet, Nokia, PayPal, and Mastercard.

It is already known that some of these firms have already been indulged in cryptocurrencies and blockchain and their involvement in Defi eliminates the need for large financial institutions and intermediaries.

Back in the month of June, Goldman joined a funding round worth $28 million for blockchain infrastructure firm Blockdaemon.

In addition to this, it should be known that later that month the firm revealed its plans to open trading for Ethereum options in the coming months.