Goldman Sachs Asset Management Files for Crypto-Linked ETF

Goldman Sachs continues ramping up its crypto-related efforts with the latest filing for an exchange-traded fund that will track related companies.

Goldman Sachs’s asset management unit filed for an application with the U.S. Securities and Exchange Commission to offer an exchange-traded fund (ETF) focused on crypto-related companies.

The Goldman Sachs Innovate DeFi and Blockchain Equity ETF will track the Solactive Decentralized Finance and Blockchain Index, according to the filing which is seeking approval as soon as practicable after the effective date of the Registration Statement».

Goldman Sachs has been increasingly expanding its cryptocurrency offering in recent months.

The bank reportedly restarted its crypto trading desk in March to deal bitcoin futures and non-deliverable forwards to support clients like hedge funds. And in June, it also announced plans to offer options and futures trading in ether – the second-largest cryptocurrency behind bitcoin.

Goldman Sachs is not the lone Wall Street giant eyeing crypto opportunities with U.S. rivals J.P. Morgan recently opening access for its wealth clients to five related funds and BNY Mellon joining a crypto consortium that includes State Street and six unnamed banks.